Newcastle cuts rates – Mortgage Strategy

Newcastle Intermediaries has reduced rates across a series of its products.

Changes include the 75 per cent LTV five-year fix having been reduced by 0.20 per cent to 2.45 per cent and the 80 per cent LTV five-year fix, which has been cut by 0.19 per cent to stand at 2.49 per cent.

Both offers have a product fee of £1,999, 10 per cent overpayments per annum, free standard valuation and an ERC of 5 per cent until 31 July 2020, which declines year-on-year to 1 per cent on 31 July 2024.

In addition, the range offers an income multiplier of up to 5.75 for loans between £500,000 and £1.5m.

Newcastle Intermediaries customer director Stuart Miller comments: “I am pleased to announce these rate reductions on our five-year fixed large loan products.

“We know that customers appreciate flexibility and choice when it comes to securing a mortgage that is right for them.”

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