Newcastle for Intermediaries has launched flexible early product transfers, letting brokers help clients save up to £300 by switching mortgage deals up to three months before their current deal ends.
Borrowers can secure a new product early without paying any early repayment charges (ERCs), so they can lock in a better rate and start saving straight away.
This option is aimed at customers with mortgage maturities in the second half of 2025, most of whom are on 2-year fixed rates.
Newcastle for Intermediaries research found a typical customer on a 2-year fix could save nearly £300 over three months by taking one of the society’s competitive current 2-year deals in advance.
Borrowers can switch to a new product from the first of the month after applying and are also allowed unlimited lump sum overpayments with no ERCs.
This lets them cut their loan balance and monthly payments further before the new deal starts.
Franco Di Pietro, head of intermediary mortgages at Newcastle Building Society, said: “We know many borrowers are feeling the pressure of rising living costs and historically higher rates.
“By giving brokers the tools to switch clients early and flexibly, we’re making it easier for them to deliver immediate savings and long-term value.
“It’s an opportunity to offer meaningful value to clients navigating a volatile rate environment, while also earning their procuration fee sooner.”
