New mortgage products from Newcastle Building Society and LV=

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New mortgage products from Newcastle Building Society and LV=

Both LV= and Newcastle Building Society have launched new mortgage products.

Newcastle now offers three-year, five-year and ten-year "best buy mortgages", with fixed rates of 6.05 per cent, 5.95 per cent and 5.95 per cent respectively.

Completion fees range from £999 to £1399, while reservation fees are £99.

All have a maximum loan to value (LTV) to 75 per cent and are available on loans of £15,000 to £500,000.

Steven Marks, lending and operations executive, said borrowers have a "healthy selection of products".

Meanwhile, LV= has launched its Flexible Lifetime Mortgage on Assureweb.

The mortgage, which enables homeowners to draw down funds from the equity in their home, uses Assureweb technology which gives access to online quotations and applications for over 150 products.

Financial advisers can use it to obtain quotes for the new mortgage for their clients.

Such clients, aged 60 to 95, can draw down a minimum amount of £10,000 and make further withdrawals of £2,000 minimum up to the maximum LTV value.
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