Following recent rate reductions to its buy-to-let (BTL) proposition, Newcastle Intermediaries has launched a range of 5-year fixed rates to provide landlords with a greater number of borrowing options.
Included as part of the updated product range is a 5-year fixed rate at 5.50% (6.6% APRC) up to 80% loan-to-value (LTV), that comes with a 1.50% product fee and allows up to 10% overpayments.
Also available is a 5-year fixed rate at 5.15% (6.6% APRC) up to 80% LTV, that comes with a 3% product fee and up to 10% overpayments.
Both products are available for house purchase and re-mortgage and come with early repayment charges of 5% until 28.02.2025, 4% until 28.02.2026, 3% until 28.02.2027, 2% until 28.02.2028 and 1% until 28.02.2029.
Franco Di Pietro (pictured), head of intermediary mortgages at Newcastle Building Society, said: “We’re always looking for ways in which we can enhance our proposition to support our broker partners.
“In response to their recent feedback on our offering for their landlord clients, in addition to our recent BTL rate reductions, we’re pleased to now offer this additional range of 5-year BTL products, providing a greater range of options, coupled with our flexible lending criteria.”
