Newcastle Intermediaries cuts rates

Michael Lloyd

July 30, 2018

Newcastle Intermediaries has reduced rates across all of its large loan products, cutting some by up to 0.48%.

The range includes income multiples of up to x 5.75 (subject to criteria) as well as offering 10% overpayments per annum, free standard valuation fees (where applicable) and interest-only repayment – all giving borrowers more choice and flexibility.

Steve Carruthers, head of mortgage distribution at Newcastle Intermediaries, said: “I’m pleased to announce these rate reductions.

“It continues to demonstrate our commitment to customers needing both flexibility and choice over a number of products.”

“Through exclusive direct access to our underwriters. They can consider affordability on a case-by-case basis, offering brokers a bespoke service to meet the needs of customers who often have more complex requirements.”

The largest rate reduction is on its 2 year fixed rate which has been reduced by 0.48% to 2.05% (5.3%APR).

The product is available to a max LTV of 80% (interest only max LTV 75%) on loans up to £1.5m, comes with 10% overpayment option, free standard valuation and an early repayment charge of 2% up until 30.09.2019 & 1% until 30.09.2020.

Interest-only loans are also acceptable, subject to specific lending criteria.

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