Newcastle cuts rates on 95% LTV products

Newcastle Intermediaries has reduced rates on a number of its 95 per cent LTV mortgage products.

Notably, this includes the 95 per cent LTV five-year fix being sliced from 3.25 per cent to 3.09 per cent. This offer includes a £498 fee, 10 per cent overpayments per annum, and tiered ERCs declining from 5 per cent to 1 per cent.

The lender has also reduced the 95 per cent LTV five-year fix from 3.45 per cent to 3.35 per cent. This product has free valuations, £500 cashback, 10 per cent overpayments per annum, and tiered ERCs declining from 5 per cent to 1 per cent.

Newcastle Intermediaries customer director Stuart Miller says: “We are dedicated to supporting the first-time buyer market and our flexible and common-sense approach to underwriting means we can consider customers who require a bespoke approach.

“These products would also suit those looking to remortgage and possibly increase their loan to make the most of some extra funding for home improvements for example.

“We are also seeing an overall increase in five-year mortgages with borrowers wanting more certainty around monthly payments and locking in longer term deals.”

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