Newcastle Intermediaries refreshes 95% LTV rates, introduces Base Rate Tracker and raises maximum loan size

01 March 2019

Newcastle Intermediaries is strengthening its ongoing support for first time buyers by reducing rates on their 95% LTV products of up to 0.26% on selected products.

A five year fix is available at 3.49% (5.0% APR) at a max LTV of 95% also comes with a free valuation, 10% overpayment facility per annum , £500 cashback or free legal fees for re-mortgaging and an early repayment charge of 5% until 31.07.2020, 4% until 31.07.2021, 3% until 31.07.2022, 2% until 31.07.2023 and 1% until 31.07.2024.

Additionally, the lender is also introducing a market leading Base Rate Tracker to their portfolio.

A two year base rate tracker is available up to a max LTV of 95% and at a current rate of 1.79% above Bank Base Rate (current pay rate 2.54%) (5.1% APR) which comes with no product fees or early repayment charges providing choice and flexibility to customers.

All products are available for purchase and remortgage including the option to raise additional funds up to 95% LTV for home improvements.

Stuart Miller, customer director, said: “It has been reported that* 95% LTV mortgage rates have reduced by around 0.5% in the last 6 months, the most significant fall across all loan to value levels. This is great news for first time buyers who’re hoping to get on the property ladder this year.

“This is why at Newcastle Intermediaries we’re pleased to announce the reduction in rates on selected 95% LTV mortgages to help more first time buyers take their first step onto the ladder, or help next time buyers looking to move and remortgage borrowers to raise additional funds for home improvements”

“As well as reducing our rates, we’re also increasing our max loan size on all of our 95% LTV mortgages from £300k to £400k.”

Paul Hampton of Approved Mortgage Solutions, said: “Because first time buyers have so many other demands on their incomes, saving for a deposit takes such a long time, which is why high LTV products are more in demand than ever. And for those clients who have smaller deposits, they usually benefit from free valuations and cashback to help with legal fees.”

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