Newcastle Intermediaries cuts rates on large loan product range

30 July 2018

Newcastle Intermediaries has reduced rates across all of its large loan products, cutting some by up to 0.48%.

After recently expanding distribution of its large loan proposition to all of their key accounts, the lender has significantly reduced rates across their 2 & 5 year fixed rate deals.

The range includes income multiples of up to x 5.75 (subject to criteria) as well as offering 10% overpayments per annum, free standard valuation fees (where applicable) and interest only repayment – all giving borrowers more choice and flexibility.

The largest rate reduction is on its 2 year fixed rate which has been reduced by 0.48% to 2.05% (5.3%APR). The product is available to a max LTV of 80% (interest only max LTV 75%) on loans up to £1.5m, comes with 10% overpayment option, free standard valuation and an early repayment charge of 2% up until 30.09.2019 & 1% until 30.09.2020.

Steve Carruthers, head of mortgage distribution at Newcastle Intermediaries, said: “I’m pleased to announce these rate reductions. It continues to demonstrate our commitment to customers needing both flexibility and choice over a number of products.”

“Through exclusive direct access to our underwriters they can consider affordability on a case-by-case basis, offering brokers a bespoke service to meet the needs of customers who often have more complex requirements.”

Interest only loans are also acceptable, subject to specific lending criteria.