View more on these topics

Newcastle Intermediaries announces BTL rate reductions

Newcastle Intermediaries has reduced buy-to-let rates across a selection of its two-, three- and five-year fixed rate products.

Highlights include the 75 per cent LTV five-year fix being reduced by 0.30 per cent to 2.75 per cent. It comes with a 10 per cent overpayment facility.

The lender has also cut the rate on its 75 per cent LTV five-year product by 0.40 per cent to give a fix of 2.95 per cent.

This comes with free standard valuations, £500 cashback or free legal fees for remortgaging, and a 10 per cent overpayment facility.

Both offerings include an early repayment charge of 5 per cent until 31 May 2020, which declines progressively until 31 May 2024, at which point the charge is 1 per cent.

The society’s interest coverage ratio is 145 per cent at a rate of 4 per cent for product terms of five years or more, and offers no maximum age for borrowers on BTL products.

Newcastle Intermediaries head of mortgage distribution Steve Carruthers says: “This reduction of rates, especially on our longer five-year fixed mortgages means landlords and other potential investors have the chance to save some money.”


Newcastle Intermediaries introduces product transfer proc fees

Newcastle Intermediaries has announced that registered partners will receive a 0.20 per cent proc fee for product transfers. The move follows a “successful” trial with L&G Mortgage Club. Figures released by UK Finance late last year showed that 291,900 homeowners switched products with their existing provider in Q3 2018, representing £21.4bn. On the announcement, Newcastle […]


News and expert analysis straight to your inbox

Sign up