Newcastle cuts rates on product transfer offers

Newcastle Intermediaries has reduced rates across its product transfer range.

The reductions occur across both the lender’s 90 per cent LTV and 95 per cent LTV products by up to 0.20 per cent.

Highlights include the 95 per cent LTV two-year fix cut being from 3.05 per cent to 2.85 per cent and the 95 per cent LTV five-year fix being reduced from 3.45 per cent to 3.29 per cent.

According to Newcastle Intermediaries, all registered brokers can process product transfers through the lender and receive a 0.20 per cent procuration fee.

Newcastle Intermediaries customer director Stuart Miller comments: “We are committed to rewarding the loyalty of customers who choose to stay with us and transfer to another of our products.

“Product transfers were the fastest growing area in the mortgage market in 2018, and according to mortgage industry speakers at the Financial Services Expo this year product transfers are likely to dominate the mortgage market in 12 months’ time.”

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