Newcastle cuts rates on 95% LTV range

Jake Carter

October 21, 2021

cut rates

Newcastle Intermediaries has reduced rates across its 95% loan-to-value (LTV) product range.

This includes a cut of 0.56% on a 5-year fixed rate and removed upfront reservation fees.

A 2-year fixed rate at 95% LTV is now available at 2.79% (3.80% APRC), representing a 0.30% reduction from its previous rate.

The product comes with an early repayment charge (ERC) of 2% until 28 February 2023 and 1% until 29 February 2024.

A 5-year fixed rate is available at 3.19% (3.70% APRC) and is a 0.29% reduction on its previous rate.

This mortgage has tiered ERCs declining year-on-year from 5% in the first year of the term to 1% in the final year.

Both products come with zero product fees to pay, attract free standard valuation up to £500,000 and come with £500 cashback.

All products in the range allow overpayments of 10% each year in addition to the £499 regular monthly overpayments already permitted.

Franco Di Pietro, head of intermediary mortgages at Newcastle Intermediaries, said: “We’re always listening to broker feedback and looking for ways to improve our product and proposition offer.

“We’re especially keen to support first time buyers and low-deposit borrowers so I’m confident these changes, including the removal of reservation fees, will give brokers and their clients a great range of options.”

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