Newcastle reduces rates on high LTV range

Jake Carter

July 2, 2021

Newcastle intermediaries

Newcastle Intermediaries has reduced rates by up to 0.25% across its range of 2 and 5-year fee-assisted 90% and 95% loan-to-value (LTV) mortgages.

The products reduced in the move all come with no product fees, include free standard valuation on properties of up to £500,000, and offer £250 cashback.

Overpayments of 10% per year are permitted, in addition to the £499 regular monthly overpayments already permitted.

A 2-year fixed rate at 3.55% at 95% LTV is now available, representing a 0.25% reduction on the previous rate.

It comes with an early repayment charge (ERC) of 2% until 30 November 2022 and 1% until 30 November 2023.

Also at 95% LTV, a 5-year fixed rate at 3.79% is now available, representing a 0.10% reduction.

It includes tiered early repayment charges, declining from 5% in the first year to 1% in the final year.

John Truswell, head of intermediary mortgages at Newcastle Intermediaries, said: “The market continues to be very competitive in the higher LTV space and we’re seeing increased consumer confidence as demand continues to build.

“We’re pleased to be able to reduce rates across the higher LTV range to provide more options for brokers and their clients, along with several incentives and added flexibility.”

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