Newcastle Intermediaries Offers Large Loan option With No ERC

11 September 2018

Following recent expansion of its large loan proposition and rate reductions, Newcastle Intermediaries has now introduced a variable rate large loan product which comes with no early repayment charge.

The two year discounted variable rate at 1.85% (APR 5.3 %) is offered at up to 80% LTV with a fee of £1999. There is no early repayment charge, providing greater flexibility for clients.

Loans are available up to £1.5m up to 75% LTV (£1m up to 80% LTV) and are available on an interest only basis subject to specific lending criteria.

Head of mortgage distribution at Newcastle Intermediaries, Steve Carruthers commented:

“Our large loans proposition can accommodate more complex income structures and has been designed to help brokers deliver a bespoke service that meets the needs of these clients.

“Our no early repayment product option gives clients the flexibility to make larger overpayments or even paying off the loan earlier than expected.”

Newcastle Intermediaries also offers a telephone helpline for case updates and case ownership from receipt to offer.