"We’re pleased to launch our First Homes products, which will give brokers and their clients a competitive option on the pilot developments."
The Scheme will help local first-time buyers onto the property ladder by offering homes at a discount of at least 30% compared to the market price.
The products are amongst the first brought to market under the initiative. A two-year fixed rate is available at 2.89% and a five-year fixed rate is available at 2.99%.
Stuart Miller, chief customer officer at Newcastle Building Society, said: “We’re pleased to launch our First Homes products, which will give brokers and their clients a competitive option on the pilot developments.
“By participating in First Homes, we’re delivering on our commitment to support first time buyers, especially those without access to the bank of mum and dad. It’s one of several innovative initiatives we’re involved in to help low-deposit borrowers get on and up the property ladder.”
