Newcastle Intermediaries introduce high-LTV fixed rate products

Jake Carter

March 10, 2021

Newcastle Intermediaries has introduced a number high-LTV fixed rate products, as well as reduced a series of rates.

Notable offerings include an 80% LTV 2-year fix at 2.45% and this product comes with a £199 product fee.

The deal also offers free standard valuation and £500 cashback.

And it includes an early repayment charge of 2% until 31 August 2022, and 1% until 31 August 2023 applies.

The society is also introducing a competitive 2-year discounted product currently paying a rate of 1.45% (2.51% discount from SVR) until 31 August 2023.

This offering comes with product fees of £999, and early repayment charges of 2% until 31 August 2022 and 1% until 31 August 2023.

In addition, the lender has reduced the 80% LTV 5-year fix by 0.05% to 2.24%.

This has product fees of £999 and tiered early repayment charges starting from 5% in the first year, reducing to 1% in the final year of the product’s term.

To support customers who require flexibility, 10% overpayment facilities apply across all products.

John Truswell, head of intermediary mortgages at Newcastle Building Society, said: “We’re continuing to see strong demand in the market, partly fuelled by the extension of the stamp duty tax concession.

“By refreshing our 80% range we’re giving brokers and their clients more choice and some really competitive options to suit their needs, underpinned by our manual underwriting and customer service.”

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