Newcastle Intermediaries reduces rates on Buy to Let range

29 October 2019

Newcastle Intermediaries has reduced rates on its Buy to Let range by up to 0.16% across a selection of two and five year products.

A two year fixed rate product is currently available at 2.16% (5.4% APRC) a 0.16% reduction on its current and comes with £999 fees and an early repayment charge of 2% until 28 February 2021 and 1% until 28 February 2022.

For those looking to fix for longer, a five year product is available at a fixed rate of 2.86% (4.7% APRC) is a 0.09% reduction from current. This includes an early repayment charge of 5% until 28 February 2021, 4% until 28 February 2022, 3% until 28 February 2023, 2% until 28 February 2024 and 1% until 28 February 2025. This product also comes with no product fees, a free standard valuation and £500 cashback.

John Truswell, head of intermediary mortgages at Newcastle Building Society, said: “This reduction of rates, means landlords and other potential investors can take advantage of more competitive rates. The societies Interest Coverage Ratio is 145% at a rate of 4% for product terms of five years or more and there is also no maximum age for borrowers on our BTL products giving us a strong Buy to Let proposition.”

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