Newcastle Intermediaries has cut rates across its five year fixed large loan products, reducing some by up to 0.20 percentage points.
The largest reduction of 0.20 percentage points on its five-year fixed rate product at 2.45% (4.6% APR) is available at maximum 75% LTV up to £1.5m, and fees of £1,999, with 10% overpayments per annum, free standard valuation and an early repayment charge of 5% until 31.07.2020, 4% until 31.07.2021, 3% until 31.07.2022, 2% until 31.07.2023 and 1% until 31.07.2024.
Alternatively, an 80% LTV five-year fix at 2.49% (4.6%APR) up to £1m (a 0.19% reduction on its current rate) is available with fees of £1,999, 10% overpayments per annum, free standard valuation and an early repayment charge of 5% until 31.07.2020, 4% until 31.07.2021, 3% until 31.07.2022, 2% until 31.07.2023 and 1% until 31.07.2024.
Interest only loans are also available, as well as taking 100% of bonus and commission subject to specific lending criteria and direct access to underwriters.
The range includes income multiples of up to x 5.75 (subject to criteria) for loans between £500K and £1.5m, providing borrowers with more choice and flexibility.
Stuart Miller (pictured), customer director, said: “I’m pleased to announce these rate reductions on our five year fixed large loan products. We know that customers appreciate flexibility and choice when it comes to securing a mortgage that’s right for them.”