Newcastle Intermediaries has updated its large loan portfolio with a range of fixed rate products to suit a variety of customer requirements.
The refreshed range, including a 2-year, 5-year and 10-year fixed rate, are all now available.
The 5-year product is available at 3.70% [3.9% APRC] for up to 80% LTV, and available on loans up to £1.5m at 75% LTV. The product comes with early repayment charges of 5% until 31.10.2023, 4% 31.10.2024, 3% until 31.10.2025, 2% until 31.10.2026 and 1% until 31.10.2027.
The range allows enhanced income multiples of up to 5.5x, providing borrowers with more choice and flexibility. The large loans range comes with a dedicated service offering direct access to Newcastle Intermediaries’ underwriting team, allows up to 10% overpayments and acceptance of up to 100% bonus / commission, subject to underwriter discretion.
Franco Di Pietro (pictured), head of intermediary mortgages at Newcastle Building Society, said: “The updates to our large loans product portfolio enable us to continue to deliver a great range of options for brokers in meeting the needs of their higher-earning clients. This continued focus on our large loans proposition demonstrates our commitment to supporting our intermediary partners and their clients.”
