Newcastle Intermediaries cuts high LTV rates

Newcastle Intermediaries has chopped the rates on a number of its two-year and five-year 95 per cent LTV mortgage products.

Changes include a cut of 0.20 per cent to the lender’s two-year fixed deal, leaving it at 3.49 per cent, with no product fees, free valuation and the choice of £500 cashback or free legal fees when remortgaging.

The two-year fix also includes a 10 per cent overpayment facility per annum and an ERC of 2 per cent until March 2020 and 1 per cent into the subsequent year.

Meanwhile, a cut of 0.40 per cent to Newcastle’s 95 per cent LTV five-year deal gives a rate of 3.67 per cent, also with no product fees, free valuation and £500 cashback or free legal fees for those remortgaging.

This product also has a 10 per cent overpayment facility per annum and an ERC of 5 per cent until March 2020, with a decremental rate of 1 per cent per year until 2024.

Newcastle Intermediaries head of mortgage distribution Steve Carruthers says: “These products will support a wide range of borrowers including first time buyers and remortgagers.”

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