The new offer will allow borrowers to save up £300 and will enable borrowers to secure new deals up to three months before their current mortgage reaches maturity and without incurring any early repayment charges (ERCs).

The flexible option aims to support customers with mortgage maturities in the second half of 2025, most of whom on two-year fixed rate deals are expected to benefit from a rate reduction when they move onto a new deal.

Borrowers can switch to a new product from the 1st of the following month after applying.

  As part of the offer, borrowers can make unlimited ERC-free lump sum overpayments when arranging a product transfer.

Newcastle Building Society head of intermediary mortgages Franco Di Pietro says: “We know many borrowers are feeling the pressure of rising living costs and historically higher rates.”

“By giving brokers the tools to switch clients early and flexibly, we’re making it easier for them to deliver immediate savings and long-term value. It’s an opportunity to offer meaningful value to clients navigating a volatile rate environment, while also earning their procuration fee sooner.”