Newcastle cuts rates on 5-year fixed large loan products

Michael Lloyd

March 8, 2019

Newcastle Intermediaries has reduced rates across its 5-year fixed large loan products, cutting some by up to 0.20%.

The largest reduction of 0.20% on its 5-year fixed rate product at 2.45%, is available at max 75% LTV up to £1.5m, and fees of £1,999, with 10% overpayments per annum, free standard valuation.

There’s an early repayment charge of 5% until 31.07.2020, 4% until 31.07.2021, 3% until 31.07.2022, 2% until 31.07.2023 and 1% until 31.07.2024.

Stuart Miller, customer director, said: “I’m pleased to announce these rate reductions on our five year fixed large loan products.  We know that customers appreciate flexibility and choice when it comes to securing a mortgage that’s right for them.”

Alternatively, an 80% LTV 5-year fix at 2.49%, 4.6%APR, up to £1m, a 0.19% reduction on its current rate is available with fees of £1,999, 10% overpayments per annum, free standard valuation.

It comes with an early repayment charge of 5% until 31.07.2020, 4% until 31.07.2021, 3% until 31.07.2022, 2% until 31.07.2023 and 1% until 31.07.2024.

Interest-only loans are also available, as well as taking 100% of bonus and commission subject to specific lending criteria and direct access to underwriters.

The range includes income multiples of up to x5.75, subject to criteria, for loans between £500,000 and £1.5m.


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