Newcastle Intermediaries has cut the rates on its 5-year fixed rate higher loan-to-value (LTV) products by up to 0.79%.
The reduced rate products include a five-year fixed rate at 4.80% (5.0% APRC) up to 90% LTV, with early repayment charges of 5% until 31.07.2024, 4% until 31.07.2025 and 3% until 31.07.2026, 2% until 31.07.2027 and 1% until 31.07.2028.
Also included in the range is a 5-year fixed rate at 5.25% (5.2% APRC) up to 95% LTV, with an early repayment charge of 5% until 31.07.2024, 4% until 31.07.2025, 3% until 31.07.2026, 2% until 31.07.2027 and 1% until 31.07.2028.
Both products are available for house purchase and remortgage, come with no fees, an overpayment facility of 10% each year for greater flexibility, and offer free standard valuation on properties up to £500,000.
Franco Di Pietro (pictured), head of intermediary mortgages at Newcastle Building Society, said: “As the market continues to evolve we’re pleased to reduce our 5-year fixed rate 90-95% LTV products, providing first-time buyers and low deposit borrowers with greater support, and to give brokers additional competitive options to present to their clients.”
