Newcastle cuts rates on 85% LTV range

Jake Carter

April 16, 2021

cut rates rate

Newcastle Intermediaries has reduced rates across its 85% loan-to-value (LTV) range by up to 0.20%.

The lender has reduced its 2-year fix by 0.20% to 2.50%, which comes with a product fee of £999.

A 2-year fixed rate which has no product fees is now available at 2.65%, following a 0.15% reduction on its previous rate.

An early repayment charge of 2% applies until 30 September 2022 and 1% until 30 September 2023 on both the above products.

For borrowers looking for a longer fix on a fee-assisted products, a 5-year fixed rate at 85% LTV is available at 2.85%, which is a 0.14% reduction on its previous rate.

This product includes tiered early repayment charges (ERCs) which start from 5% in the first year and fall by a percentage point each year

All products in the refreshed range include a free standard valuation and allow 10% overpayments per year.

John Truswell, head of intermediary mortgages at Newcastle Building Society, said: “We’re always reviewing the market to ensure our products remain competitive for clients and borrowers.

“Our latest refresh and improved pricing on our 85% LTV mortgages ensures that we continue to offer great value products to Intermediaries and their customers.”

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