Newcastle Intermediaries has cut rates across its 95 per cent LTV range.
Highlights include the 95 per cent LTV two-year fix having been cut from 3.30 per cent to 3.18 per cent, this offer has free valuations, and £500 cashback or free legals for remortgages.
In addition, the lender’s 95 per cent LTV two-year fixed rate offer at 2.86 per cent has been reduced to 2.59 per cent. This product has fees of £498.
Both the above offerings have a tiered repayment charge, starting at 2 per cent in the first year, falling to 1 per cent year in the second.
Furthermore, Newcastle has cut rates on the 95 per cent LTV five-year fix from 3.49 per cent to 3.45 per cent. The product has free valuations, and £500 cashback or free legals for remortgages.
The offering also has a tiered repayment charge, starting at 5 per cent in the first year of the mortgage, declining year-on-year to 1 per cent in the final year.
Newcastle Intermediaries customer director Stuart Miller comments: “We are pleased to see that the first-time buyer market remains very active, and our reduction in rates supports these buyers make their first step onto the housing ladder.
“As a mutual, we are dedicated to supporting the first-time buyer market and we consider customers who require a flexible approach.
“These products will also support borrowers looking to remortgage up to 95 per cent LTV including the ability to raise capital for home improvements.”