It adds new 60% LTV products available on loans up to £1.5 million
Newcastle Intermediaries has introduced a new two-year fixed rate product at 2.95% at a maximum of 60% LTV, and a five-year fix at 3.10%, also available at 60% LTV.
Both products are for remortgage customers only and come with zero product fees. They are available on loans up to £1.5 million, offer a free standard valuation, and with free legal fees should the society’s solicitor be nominated.
The two-year fix attracts an early repayment charge of 2% until August 31, 2023, and 1% until August 31, 2024.
The five-year product attracts early repayment charges of 5% until August 31, 2023, 4% until August 31, 2024, 3% until August 31, 2025, 2% until August 31, 2026, and 1% until August 31, 2027.
The new products, which were created in response to consumer demand and feedback from intermediary partners, allow 10% overpayments per year.
Franco Di Pietro, head of intermediary mortgages, said that with the rising cost of living and recent increases to base rate, even more homeowners are looking to remortgage on the best possible terms.
“By introducing two new 60% products and assistance with fees, we’re giving brokers and their clients some competitive options backed by our flexible approach to underwriting and leading service levels,” Di Pietro added.
