Newcastle has it’s origins traced back to 1861. Its present format is the fruit of a 1980 merger between the Grainger and Newcastle Permanent Building Societies. Newcastle Building Society has a strong presence in the North East of England, and their offices stretch from as far to the north as Falkirk, to Peterborough in the south, and overseas to Gibraltar. Newcastle presently has over 830 full or part time employees.

Newcastle Building Society is the largest building society based in the North East of England, and is currently the 13th largest in the UK managing over £3.4 billion in assets. It is a mutual organisation, its profits are invested back into the business and not paid out in dividends to shareholders so it can afford to offer more competitive rates than other lenders.

Newcastle offers the following types of mortgage:

Variable
Discount
Base Rate Tracker
Fixed Rate
Offset Base Rate Tracker

Variable: your mortgage interest rate will be at the Society’s standard variable interest rate for the entire term of the mortgage.

Interest is calculated Daily
This product is portable
An early repayment fee applies during the first 2 years
An administration fee applies
A higher lending charge applies

Discount: your starting rate will be set at a discount off the Society’s standard variable rate for an agreed interval. After this discount period your rate will convert to the standard variable rate.

Interest is calculated Daily
This product is portable
An early repayment fee applies for the discount period

Base Rate Tracker: your starting interest rate for an agreed period is linked to the Bank of England Base Rate, but is not the same. After the Tracker period is over your rate will go back to the Society’s standard variable rate.

Interest is calculated Daily
This product is portable
An early repayment fee applies for the tracker period

Fixed Rate: your mortgage rate will be fixed for an agreed period. Once the fixed rate period has concluded your mortgage will convert to the Society’s standard variable rate for the remaining mortgage term.

Interest is calculated Daily
This product is portable
An early repayment fee applies
A higher lending fe applies

Offset Base Rate Tracker: your starting interest rate for an agreed period is linked to the Bank of England Base Rate, but is not the same. After this starting 6 month period is over your rate will convert to a higher rate but still linked to the Bank of England base rate. The offset part of this product permits you to offset your savings against your mortgage balance. This could save you some money and let you repay your mortgage early.

There are no early repayment charges

Newcastle also offers lendings on commercial estate in England, Scotland and Wales.

Newcastle provides, as well, mortgage advice on the following types of mortgage:

Adverse Credit
Self-Certification
Buy to Let
Enhanced lending 100%+ Loan to Value
Self Employed
Building your Own Home

They will search the market place to try and find out the best mortgage for you at no initial cost.