Newcastle Intermediaries reduces rates on 85% LTV range

18 January 2021

Newcastle Intermediaries has reduced the rates on its two and five-year 85% LTV mortgage range with rates now as low as 2.75% and no product fees on selected products.

Cuts of up to 0.29% have been made across the 85% LTV range to provide brokers and their clients with some of the most competitive rates on the market.

A two-year fixed rate at 2.75% (3.9% APRC) is a 0.20% reduction on its previous rate. It attracts a product fee of £999 and has an early repayment charge of 2% until 30.06.2022 and 1% until 30.06.2023.

For borrowers not wanting to pay a product fee, an alternative two-year fixed rate is available at 2.85% (3.8% APRC), representing a 0.29% reduction on its previous rate. The product has an early repayment charge of 2% until 30.06.2022 and 1% until 30.06.2023.

All of the lender’s competitive 85% LTV mortgages come with a free standard valuation and permit 10% overpayments per annum to support borrowers who require the flexibility to make lump sum overpayments.

John Truswell, head of intermediary mortgages at Newcastle Building Society, said: “With continued strong demand in the market for higher LTV products, we’re pleased to introduce the competitive rates on both our two and five-year fixed rates which are now available to help a variety of borrowers especially first time buyers, home movers and existing home owners wishing to remortgage to a lower rate.”

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