The Newcastle Building Society (NBS) has unveiled a new five-year fixed rate mortgage at 4.99%.

It is available up to 80% loan-to-value for both purchase and remortgage.

The deal comes with a £499 completion fee and a £195 reservation fee.

Steve Urwin , sales and marketing executive at the Newcastle, said: “We understand that some borrowers want certainty with their mortgage payments. Securing a rate in the medium term provides peace of mind knowing that your monthly payments won’t change