It also reintroduces a range of products at 60% LTV
Newcastle Intermediaries has announced rate reductions of up to 0.39% across its existing 80% loan-to-value (LTV) product range.
The lender also said that it is reintroducing a range of products at 60% LTV, including its remortgage exclusives and base rate trackers.
The updated range includes a remortgage two-year fixed rate at 5.49%, up to 60% LTV, with early repayment charges of 2% until March 31, 2024, and 1% until March 31, 2025. It comes with no product fees, free base legal fees (if a society nominated solicitor is used), a free standard valuation, and up to 10% overpayments per annum.
A two-year base rate tracker at 3.55% up to 60% LTV is also available, with early repayment charges of 1% until March 31, 2025. The base rate tracker has a £999 product fee and offers up to 10% overpayments per annum.
Franco Di Pietro (pictured), head of intermediary mortgages at Newcastle Building Society, said that as a significant numbers of homeowners look to remortgage or switch in the coming year, they recognised the importance of responding to the changing requirements of the market.
“We believe our new remortgage rates provide the ideal option for those coming to the end of their existing mortgage term,” Di Pietro commented. “We’re pleased to announce we’ll be lowering rates across our existing 80% LTV range and reintroducing a range of 60% LTV products.
“These updates to our residential mortgage proposition deliver real benefits to customers with a range of circumstances, looking to purchase a property or remortgage their existing home, including fee assisted options for those customers who are looking for help with costs.”
