Newcastle Intermediaries has refreshed its buy-to-let (BTL) proposition with a new range of 2-year rates, and has also made a reduction to its BTL stress rates.
Included in its refreshed range is a 2-year fixed rate at 5.20% (6.9% APRC) up to 80% loan-to-value (LTV) that comes with a £999 product fee and early repayment charges (ERCs) of 2% until 31.08.2025 and 1% until 31.08.2026.
Also available is a 2-year fixed rate at 5.40% (6.8% APRC) up to 80% LTV, that comes with no product fee and early repayment charges of 2% until 31.08.2025 and 1% until 31.08.2026.
Both products are available for house purchase and re-mortgage, have no minimum income or maximum age criteria and offer up to 10% overpayments per annum.
In addition, Newcastle Intermediaries has also reduced its stress rate for BTL lending across its fixed rate products under 5-years from 7.75% to 7.50%, and across its fixed rate longer term products from 5.25% to 5.00%.
Franco Di Pietro (pictured), head of intermediary mortgages at Newcastle Building Society, said: “We’ve updated our range of two-year BTL products, with competitive rates complemented by the enhancements offered by our flexible lending criteria, direct access to our team of underwriters and support for each broker via their dedicated regional business development manager.
“At the same time, and as we look to support brokers and their clients as much as we can, we’re also pleased to be able to reduce stress rates on shorter and longer-term fixed rate products across our BTL range, which will provide a greater degree of flexibility.”
