Franco Di Pietro, head of intermediary mortgages at Newcastle Intermediaries, said: “We’re constantly assessing the competitiveness of our range so we’re pleased to give brokers and their clients some competitive options across our higher LTV range."
Newcastle Intermediaries has reduced rates by up to 0.41% on its higher loan-to-value (LTV) product range, applying cuts to most of its 90% and 95% LTVs.
The biggest rate reduction - of 0.41% - is on the 90% LTV 5-year fixed rate, available at 2.89% (3.7 % APRC).
An early repayment charge (ERC) of 5% applies until 31 January 2023, 4% until 31 January 2024, 3% until 31 January 2025, 2% until 31 January 2026 and 1% until 31 January 2027.
For borrowers looking for 95% LTV, a 5-year fixed rate is now available at 3.45% (3.9 % APRC) representing a 0.24% reduction on the previous rate.
An ERC of 5% applies until 31 January 2023, 4% until 31 January 2024, 3% until 31 January 2025, 2% until 31 January 2026 and 1% until 31 January 2027.
A product fee of £499 is payable on both products and overpayments of 10% per year are allowed in addition to the £499 regular monthly overpayments already permitted.
Elsewhere in the range, the lender offers free standard valuation on properties of up to £500,000, cashback of £500 and several zero-product fee options.
Franco Di Pietro, head of intermediary mortgages at Newcastle Intermediaries, said: “We’re constantly assessing the competitiveness of our range so we’re pleased to give brokers and their clients some competitive options across our higher LTV range.
"We’ve increased the cashback from £250 to £500 on certain products, which combined with the reduced rates will better support first time buyers, home movers and customers who are looking to remortgage.”
