Newcastle Intermediaries has reduced rates across its large loan proposition and introduced discounted variable rates offering products up to 80% loan-to-value (LTV).
The products are in response to property price growth in the last few years resulting in higher loan sizes, and support brokers’ higher earning clients.
A 2-year discounted rate is now available at 4.29% (4.9% APRC) up to 65% LTV for loans of between £1,501,000 and £2,000,000, which is a 0.62% discount on the lender’s standard variable rate.
Franco Di Pietro, head of intermediary mortgages said: “These discounted rates across our large loans range reflect our ambition to constantly strive to make our product range more attractive to brokers and their clients, while our flexible approach to lending and overall proposition offers higher earning borrowers a compelling option.”
Additionally, a 5-year fixed rate at 5.30% (5.2% APRC) is now available at a maximum LTV of 80% for loans of between £1,000,000 and £1,500,000.
A product fee of £1,499 is payable on all products in the range and 10% overpayments per annum are permitted to support borrowers who require the flexibility to make lump sum overpayments.
Early repayment charges apply across the range.
The lender’s large loan proposition also offers enhanced income multiples up to 5.5, interest only options and a dedicated service with direct access to underwriters.
