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Newcastle Intermediaries reduces rates on higher LTVs

Jessica Bird

August 11, 2021

LTVs

Newcastle Intermediaries has reduced rates by up to 0.41% on its higher loan-to-value (LTV) product range, applying cuts to most of its 90% and 95% LTVs.

The biggest rate reduction – of 0.41% – is on the 90% LTV 5-year fixed rate, available at 2.89% (3.7 % APRC).

An early repayment charge (ERC) of 5% applies until 31 January 2023, 4% until 31 January 2024, 3% until 31 January 2025, 2% until 31 January 2026 and 1% until 31 January 2027.

For borrowers looking for 95% LTV, a 5-year fixed rate is now available at 3.45% (3.9 % APRC) representing a 0.24% reduction on the previous rate.

An ERC of 5% applies until 31 January 2023, 4% until 31 January 2024, 3% until 31 January 2025, 2% until 31 January 2026 and 1% until 31 January 2027.

A product fee of £499 is payable on both products and overpayments of 10% per year are allowed in addition to the £499 regular monthly overpayments already permitted.

Elsewhere in the range, the lender offers free standard valuation on properties of up to £500,000, cashback of £500 and several zero-product fee options.

Franco Di Pietro, head of intermediary mortgages at Newcastle Intermediaries, said: “We’re constantly assessing the competitiveness of our range so we’re pleased to give brokers and their clients some competitive options across our higher LTV range.

“We’ve increased the cashback from £250 to £500 on certain products, which combined with the reduced rates will better support first time buyers, home movers and customers who are looking to remortgage.”


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