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Newcastle Building Society - Home

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2 Year Fixed Rate Mortgage

A fixed interest rate mortgage helps to make budgeting easier, as your monthly repayments stay the same each month during the fixed interest rate period.

So there's no sudden changes in how much you need to find to make your repayments even if interest rates rise or fall.

Representative example

A mortgage of £186,208.00 over 31 years on an initial rate of 5.85% fixed for 2 years followed by our Standard Variable Rate currently at 6.94% for the remaining 29 years would require 24 monthly payments of £1087.28 and 348 monthly payments of £1215.86. The total amount payable would be £449,344.00 made up of the loan amount of £186,208.00 plus interest of £263,136.00 including a a Valuation fee of £290. The representative example is for illustration only. Your actual costs and monthly payment will vary depending on your mortgage.

Good to Know

  • Repayment amount won't change during the fixed rate term
  • Helps you to plan your finances in advance
  • Allows you to budget
  • Fixed rate of interest over two years

Summary information

Interest Rates

Initial rate of 5.85% until 30th September 2026 reverting to our Standard Variable Rate (currently 6.94%) from 1st October 2026.

Maturity Date

30 September 2026

Maximum Loan to Value (LTV)

90%

Loan Amount

£50,000 - £750,000

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 allowed per annum.

Early Repayment Charge

2% of balance outstanding until 30th September 2025.

1% of balance outstanding until 30th September 2026.

Apply for a mortgage today

We know how important it is for you to get the right mortgage deal. So whether you're buying your first home, moving house or looking to re-mortgage we have the knowledge to help you make the right decision.

Arrange an appointment

Or arrange to speak to a Mortgage Adviser

Call the team on

0345 601 5533

Our lines are open every weekday between 8am and 6pm

YOUR MORTGAGE WILL BE SECURED ON YOUR HOME. YOUR HOME MAY BE REPOSSESSED IF YOU DO NOT KEEP UP REPAYMENTS ON YOUR MORTGAGE