Newcastle BS launches a 10 year fixed rate mortgage.

A new 10 year fixed rate deal has been launched by the Newcastle Building Society at 3.29% for residential property purchase only. 

In addition, the lender has also launched various new buy to let mortgage products with rates from under 3%.

A 2 year fix is on offer at 2.59% with a £1,999 fee, an early repayment charge of 3% applies on this mortgage.

A 5 year buy to let mortgage has also been launched, the rate is set at 3.49% with a completion fee of 2.5% of the total loan amount.

Both buy to let mortgage products require applicants to have a 25% deposit and come with a standard valuation.

It is thought that competition in the buy to let market will intensify over the next 2 months, as would-be landlords rush to buy a property before changes are introduced to the buy to let market.

If you are looking to buy an investment property and would like to compare lenders mortgage offers, call us at Deal Direct.

We are experts at sourcing the best buy to let deals market-wide. We have helped many landlords buy property and are regulated to offer mortgage advice. We are not financial advisers, and therefore to work out if property is the right investment for your needs, speak to an IFA.

Although the market will be subject to increased regulation from 01 April, at present not all buy to let deals are regulated by the FCA. 

For advice and a quote call us on 0800 048 8828.