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Newcastle cuts rates on 85% LTV products

Jake Carter

January 15, 2021

buy-to-let

Newcastle Intermediaries has reduced rates on a number of 85% LTV products.

Cuts of up to 0.29% have been made across the 85% LTV range, with offerings now starting from 2.75%, as well as no product fees on selected products.

A 2-year fixed rate at 2.75% (3.9% APRC) has been cut by 0.20%.

The deal includes a product fee of £999 and has an early repayment charge of 2% in the first year of the offering, dropping to 1% in the second.

An alternative, fee free, 2-year fixed rate is now available at 2.85% (3.8% APRC), representing a 0.29% reduction on its previous rate.

This product also has tiered ERCs at 2% in the first year, declining to 1% in the second.

All of the lender’s 85% LTV mortgages come with a free standard valuation and permit 10% overpayments per annum.

John Truswell, head of intermediary mortgages at Newcastle Building Society, said: “With continued strong demand in the market for higher LTV products, we’re pleased to introduce the competitive rates on both our 2 and 5-year fixed rates which are now available to help a variety of borrowers especially first time buyers, home movers and existing home owners wishing to remortgage to a lower rate.”


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