Newcastle Building Society – UK Mortgage Lender
The Newcastle Permanent Building Society was founded in 1863 in Newcastle upon Tyne. The Newcastle Permanent merged with the Grainger Building Society to form the Newcastle Building Society in 1980. The society is the 13th largest building society in the UK.
The society has fifty branches in the UK, plus one in Gibraltar.
Fixed Rate Mortgages: 2 year, 5 year and 20 year fixed rate mortgages and remortgages.
Discounted Mortgages: 2 year and 3 year discounted rate mortgages and remortgages.
Tracker Mortgages: lifetime base rate tracker mortgages and remortgages, with offset options.
Standard Variable Rate Mortgage: a variable rate mortgage where monthly repayments go up and down in line with the lender’s base rate.
The Newcastle Building Society states that it is one of the largest mutual building societies in the United Kingdom and prides itself on combining the local knowledge and friendly service with profits being given back to the members with the power of a large lender able to offer an extensive range of products.
As an example, the Newcastle Building Society has now created a lifetime mortgage which is an equity release product. This mortgage is not only available on the main family home but also on a second home, offering total flexibility with this unusual product.
Other products include investments such as variable and regular saver accounts. Newcastle Building Society has a property bond savings account which allows investors to put in cash to an account that offers returns based on the property price index.