Newcastle Intermediaries has re-entered the large loan market with new 2- and 5-year fixed rate products.
The 2-year product is available at 6.45% (5.3% APRC) for up to 65% LTV and on loans between £1.5m and £2m.
Additionally, the product comes with early repayment charges of 2% until the 31st of January 2024 and 1% until the 31st of January 2025.
Franco Di Pietro (pictured), head of intermediary mortgages at Newcastle Building Society, said: “We have updated our large loan product portfolio in line with the current rate environment and are pleased to be able to reintroduce the range to market reflecting our continued commitment to supporting our intermediary partners and their clients.”
The range allows enhanced income multiples of up to 5.5x, providing borrowers with more choice and flexibility.
The large loans proposition 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.
