Newcastle Intermediaries has reduced rates across all of its large loan products, cutting some by up to 0.48 percentage points.
The range includes income multiples of up to x 5.75 (subject to criteria) as well as offering 10% overpayments per annum, free standard valuation fees (where applicable) and interest only repayment.
The largest rate reduction is on its two-year fixed rate which has been reduced by 0.48 percentage points to 2.05% (5.3% APR). The product is available to a max LTV of 80% (interest only, maximum LTV 75%) on loans up to £1.5m, comes with 10% overpayment option, free standard valuation and an early repayment charge of 2% up until 30/09/2019 & 1% until 30/09/2020.
Steve Carruthers, head of mortgage distribution at Newcastle Intermediaries, said: “I’m pleased to announce these rate reductions. It continues to demonstrate our commitment to customers needing both flexibility and choice over a number of products.
“Through exclusive direct access to our underwriters they can consider affordability on a case-by-case basis, offering brokers a bespoke service to meet the needs of customers who often have more complex requirements.”
Interest only loans are also acceptable, subject to specific lending criteria.