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2 Year Discounted Variable Rate
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A discount variable rate mortgage has an interest rate that is set a certain amount below the Society’s Standard Variable Rate (SVR). Following a change to our SVR, your mortgage payment will change too and these changes can be outside of a Bank of England Base Rate change.
Summary information
Product Code
RTEN091
Interest Rates
1.81% discount from the Society’s SVR (currently 6.31%) until 30th April 2028.
Maturity Date
30 April 2028
Maximum Loan to Value (LTV)
80%
Loan Amount
£1,000 - £2,000,000
£1,000 - £3,000,000 (Up to 65% LTV)
Daily Interest Calculation
Interest is calculated on the balance of your account at the end of each day. Interest is accrued daily and added to your account balance on the last day of every month. Every cleared payment that is made reduces the mortgage balance and interest is recalculated on the reduced balance.
Minimum Term
2 Years
Reservation Fee
0
Completion Fee
0
Incentives
10% overpayments per annum
Early Repayment Charge
1% of balance outstanding until 30th April 2028.
Meet your BDM
Here to support you
Available across the UK, your dedicated Business Development Manager (BDM) is ready to give expert advice on your product, criteria, or application questions.
Michael Hollier-Hann - Telephone
North West & Midlands
0191 244 2083
Contact our dedicated Intermediary Support Team on 0345 602 2338 or intermediary.lending@newcastle.co.uk. We're available from 8am to 6pm, Monday to Friday.