The Newcastle Building Society (NBS) has launched a new 80% LTV mortgage.

The new 3.43% fixed rate deal is available up to a LTV of 80% and comes with a £199 reservation fee (payable upfront and non refundable).

There is no completion fee, unless the loan exceeds £500,000 when the completion fee will be 0.30% of the advance amount.

Steve Urwin, sales and marketing executive at NBS, said: “We’re finding in the market that fixed rated products, particularly five year ones are becoming even more popular as talk of an interest rate rise goes on.

“Our new product is good as it is a competitive rate but comes with low fees, which helps to keep the move costs down.”