Newcastle for Intermediaries has reduced its 2-year and 5-year rates across its large loan mortgage products by up to 0.26%.
The changes are aimed at brokers and high-income clients with complex financial needs.
A 2-year fixed rate is available at 4.90% with an annual percentage rate of charge (APRC) of 6.5% for loans between £1.5m and £3m with a loan-to-value (LTV) of up to 65%.
This product includes early repayment charges (ERC) of 2% until 31st August 2026 and 1% until 31st August 2027, along with a £1,999 product fee.
Other features of the loan range include the ability to count up to 100% of bonus or commission, subject to underwriter discretion, and enhanced income multiples of up to 5.5 times earnings, providing more flexibility for borrowers.
Additionally, the product allows up to 10% overpayments and includes direct access to Newcastle for Intermediaries’ underwriting team for dedicated service.
Franco Di Pietro (pictured), head of intermediary mortgages at Newcastle Building Society, said: “We’re always looking for ways to make our large loan product range more attractive to brokers and their clients, and following a review of our rates we’re pleased to make these reductions to our proposition which reflect the current rate environment.”
