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Newcastle Building Society

This mutual society is based in the centre of Newcastle and is the largest building society in the north east of England. As a mutual organisation all profits are used for the benefit of members and there are no shareholders to pay. The Newcastle Building Society has assets of approximately £4.5 billion and employs over 1,000 staff members in its principle office and branch network.

Mortgages are available for up to 90% of the property value but you will benefit from a lower interest rate if you are able to provide a bigger deposit.

You may prefer a discounted rate that follows the Bank of England Base Rate and will rise or fall accordingly. If you believe that interest rates are likely to fall then you may wish to consider this product as you will be taking advantage of any reductions straight away.

An Offset account that combines your savings and mortgage may enable you to pay off your mortgage earlier and allows overpayments and underpayments throughout the term of the loan. There are some tax benefits that may apply to you if you use your savings in this way. The value of your property must be a minimum of £60,000 and you must borrow at least £50,000.


Newcastle Building Society Mortgage Products

Discounted mortgages: You will pay a reduced interest rate for the agreed term, the discount rate will be set below the Standard Variable Rate and will therefore be affected by any changes in the Bank of England Base Rate. Minimum loan amount is £50,000 and maximum loan is £350,000. At the end of the discount period you will switch to the Society's Standard Variable Rate.

Early repayment charges will apply if you pay off all or part the mortgage amount.

Fixed mortgages: You can choose a fixed rate mortgage over 2, 3 or 5 years and enjoy the security of knowing exactly how much your monthly repayments will be. The minimum loan amount is £50,000, the maximum loan amount is £500,000 and the minimum repayment term is five years.

If you repay your mortgage during the fixed rate period, you will be charged an early repayment fee.

Offset mortgages: By combining your savings and mortgage account you will pay less interest and possibly pay off your mortgage earlier. The Newcastle Building Society also allows a family member to nominate their savings account so that you can benefit from this 'offset' amount. For example if you have a mortgage of £90,000 and a nominated savings account with £10,000 you will be paying interest on just £80,000.

If you are interested in a mortgage quotation including those offered by Newcastle Building Society please complete our quick enquiry form.

Newcastle Building Society Mortgage Rates

Mortgage Type Initial Rate Subsequent Rate APR Max LTV Fees & Charges Enquire Now
2yr Discounted Rate 2.89% Variable 5.99% Variable 5.7% 75% £195 Reservation Fee, £800 Completion Fee
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2yr Fixed rate 5.95% Fixed 5.99% Variable 6.4% 90% £195 Reservation Fee, £499 Completion Fee
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5yr Offset Fixed Rate 4.99% Fixed 5.99% Variable 5.9%   £195 Reservation Fee, £800 Completion Fee
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Speak to a professional about a Newcastle Building Society Mortgage