Newcastle Intermediaries reduces rates on residential products

Newcastle Intermediaries has reduced rates on several 80% LTV products in its residential mortgage range, including two fee-assisted products.

The lender has cut rates from 2.65% to 2.25% (5.1% APRC) on a two year fixed rate at 80% LTV with an early repayment charge of 2% until 31st December 2021 and 1% until 31st December 2022.

Alternatively, a five year fix rate at 80% LTV has been cut from 2.75% to 2.55% (APRC 4.7%) with an early repayment charge of 5% until 31st December 2021, 4% until 31st December 2022, 3% until 31st December 2023, 2% until 31st December 2024 and 1% until 31st December 2025.

With no product fees to pay, both also offer free standard valuation, £500 cashback and 10% overpayments per annum.

John Truswell, head of intermediary mortgages at Newcastle Building Society, said: “We’re continually looking at ways to provide great value and service to our customers so we’re delighted to reduce rates on a number of our 80% LTV mortgages. These re-mortgage and purchase products are competitively priced and offer borrowers greater flexibility and support with home buying and home moving costs.”

All product details and the full range of available products can be found at www.newcastleis.co.uk

Published: 13 July 2020