Newcastle Intermediaries has launched a new range of 3- and 5-year fixed rate 95% loan-to-value (LTV) products in response to homebuyers’ evolving needs for greater choice and flexibility.
The new range includes a 3-year fixed rate at 3.06% (3.8% APRC) with early repayment charges of 3% until 31.08.2023, 2% until 31.08.2024 and 1% until 31.08.2025.
For borrowers wanting to fix for a longer period, a 5-year fixed rate at 3.09% (3.7% APRC) is also available with an early repayment charge of 5% until 31.08.2023, 4% until 31.08.2024, 3% until 31.08.2025, 2% until 31.08.2026 and 1% until 31.08.2027.
Overpayment of 10% each year is permitted to offer clients greater flexibility and both products come with £500 cashback and offer free standard valuation up to £500,000.
Franco Di Pietro (pictured), head of intermediary mortgages at Newcastle Building Society, said: “We’re always listening to broker feedback and looking for ways to increase support for clients.
“For low deposit borrowers especially we recognise needs are evolving so we’re really pleased to introduce new three and 5-year fixed rate options to give brokers additional options, backed by our flexible approach to underwriting.”
