Newcastle Intermediaries has announced today that it has launched a new 2 fixed rate mortgage product which will be available exclusively for re-mortgaging customers.

The product is fixed at 1.99% for two years and is available up to 80% LTV, with the ability to overpay by 10% each year, free valuation and legal fees.

Steve Carruthers, Head of Mortgage Distribution at Newcastle Intermediaries, had this to say: “The cost of remortgaging can often be a challenge for borrowers each time their mortgage deal expires. This product offers a low fixed rate in an uncertain economy, with the flexibility of overpaying up to 10% each year. The free standard valuation and legal fees means there are some upfront savings to be made too.”