Newcastle Intermediaries has reduced rates across its 95% LTV product range, including a reduction of 0.56 percentage points on a five-year fixed rate and the removal of upfront reservation fees.
A two-year fixed rate at 95% LTV is now available at 2.79%, representing a 0.30 percentage point reduction from its previous rate. The product comes with an early repayment charge of 2% until 28/02/23 and 1% until 29/02/24.
A five year fixed rate is available at 3.19% and is a 0.29 percentage points reduction on its previous rate. This mortgage has an early repayment charge of 5% until 28/02/23, 4% until 29/02/24, 3% until 28/02/25, 2% until 28/02/26 and 1% until 28/02/27.
Both products come with zero product fees to pay, a free standard valuation up to £500,000 and £500 cashback.
All products in the range allow overpayments of 10% each year in addition to the £499 regular monthly overpayments already permitted.
Franco Di Pietro (pictured), head of intermediary mortgages at Newcastle Intermediaries, said: “We’re always listening to broker feedback and looking for ways to improve our product and proposition offer. We’re especially keen to support first time buyers and low-deposit borrowers so I’m confident these changes, including the removal of reservation fees, will give brokers and their clients a great range of options.”