Newcastle Intermediaries cuts rates on Large Loan product range

08 March 2019

Newcastle Intermediaries has reduced rates across its five year fixed large loan products, cutting some by up to 0.20%.

Interest only loans are also available, as well as taking 100% of bonus and commission subject to specific lending criteria and direct access to underwriters.

The range includes income multiples of up to x 5.75 (subject to criteria) for loans between £500K and £1.5m, providing borrowers with more choice and flexibility.

The largest reduction of 0.20% on its 5 year fixed rate product at 2.45% (4.6% APR) is available at max 75% LTV up to £1.5m, and fees of £1,999, with 10% overpayments per annum, free standard valuation 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.

Alternatively, an 80% LTV 5 year fix at 2.49% (4.6%APR) up to £1m (a 0.19% reduction on its current rate) is available with fees of £1,999, 10% overpayments per annum, free standard valuation 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.

Stuart Miller, customer director, said: “I’m pleased to announce these rate reductions on our five year fixed large loan products. We know that customers appreciate flexibility and choice when it comes to securing a mortgage that’s right for them.”