Newcastle for Intermediaries has reduced the 2- and 5-year fixed rate products in its large loan proposition by up to 0.15%.
The 2-year product is available at 5.15% for up to 65% loan-to-value (LTV) on loans between £1.5m and £3m.
The product comes with early repayment charges (ERCs) of 2% until 31.07.2025 and 1% until 31.07.2026, as well as a £1,999 product fee.
A 5-year product is also available at 4.75% [
for up to 65% LTV on loans between £1.5m and £3m. The product comes with ERCs of 5% until 31.07.2025, 4% until 31.07.2026, 3% until 31.07.2027, 2% until 31.07.2028 and 31.01.2029 as well as a £1,999 product fee.
The range accepts up to 100% bonus or commission, subject to underwriter discretion, and allows enhanced income multiples of up to 5.5x, providing borrowers with more choice and flexibility.
Franco Di Pietro (pictured), head of intermediary mortgages at Newcastle Building Society said: “We constantly strive to make our large loan product range more attractive to brokers and their clients, while our flexible approach to lending and overall proposition offers borrowers a compelling option.
“We’re pleased to be able to update our large loan product portfolio in line with the current rate environment, reflecting our continued commitment to supporting our intermediary partners and their clients.”
