Newcastle Building Society has launched a 4.64% fixed rate product with no early repayment charge (ERC).

The new deal is available at a maximum LTV of 80%. There is an £800 completion fee and £195 reservation fee (payable upfront and non refundable).

Steve Urwin, sales and marketing executive, said: “Our product has been launched for those borrowers who want the best of both worlds certainty now with a fixed rate but the knowledge that they can leave that mortgage at any time if they need to.