"The reduction in our residential SVR supports borrowers currently on SVR or an SVR-linked product"
From today, the Society’s residential SVR in England, Scotland, Wales and Northern Ireland will reduce by 2.03% to 3.96%.
The new product range includes a two-year discounted variable rate at 1.79%, representing a 2.17% discount from SVR, available up to 80% LTV with a £999 product fee.
Alternatively, for borrowers who are looking for help with fees, a two-year discounted variable rate is available at 2.35%, representing a discount of 1.61% from SVR, with a free standard valuation on properties of up to £500,000 and no product fees.
John Truswell, head of intermediary mortgages at Newcastle Building Society, said: “The reduction in our residential SVR supports borrowers currently on SVR or an SVR-linked product, and so, we’re delighted to introduce this new range of discounted variable rate products to provide customers with more options at competitive rates.”
