Newcastle Intermediaries reduces rates on competitive 95% range

01 April 2019

Newcastle Intermediaries has reduced its 95% LTV range by up to 0.27% creating a very competitive range to further support first time buyers.

A two year fixed of 3.12% (APRC 5.2%), a 0.18% reduction on its current rate is available at a max LTV of 95%, comes with free valuation, £500 cashback or free legal fees for re-mortgages.

Or, for a lower rate, a two year fix at 2.59% (APRC 5.2%), a 0.27% reduction on its current rate, with fees of £498 to pay, is available at 95% LTV. Both have an early repayment charge of 2% until 31.07.2020and 1% until 31.07.2020.

Alternatively, for borrowers looking to fix for a longer period of time, a five year fee assisted fixed rate is available at 3.45% (APRC 5.0%), a 0.04% reduction on its current rate, comes with free valuation, £500 cashback or for re-mortgagers free legal fees, 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 at Newcastle Intermediaries, said: “We’re pleased to see that the first time buyer market remains very active, and our reduction in rates support these buyers make their first step onto the housing ladder. As a mutual, we are dedicated to supporting the first time buyer market and our flexible and common sense approach to underwriting means we can consider customers who require a flexible approach.

“These products will also support borrowers looking to re-mortgage up to 95% LTV including the ability to raise capital for home improvements.”

Newcastle Intermediaries also recently announced an increase in their maximum loan for 95% lending up to £400,000.

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