Newcastle Intermediaries has reduced rates by up to 0.41% on its higher loan-to-value (LTV) product range, applying cuts to most of its 90% and 95% LTV offer.
The biggest rate reduction of 0.41% is on its 90% LTV five-year fixed rate available at 2.89% (3.7 % APRC). An early repayment charge of 5% applies until 31.01.2023, 4% until 31.01.2024, 3% until 31.01.2025, 2% until 31.01.2026 and 1% until 31.01.2027.
Alternatively, for borrowers looking for 95% LTV, a five-year fixed rate is now available at 3.45% (3.9 % APRC) representing a 0.24% reduction on the previous rate. An early repayment charge of 5% applies until 31.01.2023, 4% until 31.01.2024, 3% until 31.01.2025, 2% until 31.01.2026 and 1% until 31.01.2027.
A product fee of £499 is payable on both products and overpayments of 10% per year are allowed in addition to the £499 regular monthly overpayments already permitted.
Elsewhere in the range, the lender offers free standard valuation on properties of up to £500,000, cashback of £500 and several zero-product fee options.
Franco Di Pietro, head of intermediary mortgages said: “We’re constantly assessing the competitiveness of our range so we’re pleased to give brokers and their clients some competitive options across our higher LTV range. We’ve increased the cashback from £250 to £500 on certain products, which combined with the reduced rates will better support first-time buyers, home movers and customers who are looking to re-mortgage.”
All product details and the full range of available products can be found at www.newcastleis.co.uk
