Newcastle Building Society has extended the availability of its five-year fixed rate mortgage.

The product was launched in October 2011 and the Newcastle said it has prolonged the life of the deal due to its popularity.

It is available at a rate of 3.99% for LTVs of up to 80% and is now fixed until 30 April 2017.

Steve Urwin, sales and marketing executive at the Newcastle, said: “Five-year fixed rate deals are proving popular to those borrowers that prefer to adopt a ‘safety first’ approach to their mortgage.