Newcastle Intermediaries has reviewed its 80% LTV mortgage range, including a rate reduction of 0.10 percentage points on selected products.
A two-year discounted rate is available at 1.45% (3.6% APRC) which now represents a 2.51 percentage point discount from the lender’s SVR. A product fee of £999 is payable and a 1% early repayment charge applies until 31/01/24.
A two-year fixed rate fee assisted product is also available at a 2.35% (3.7% APRC) and comes with no product fees to pay, free standard valuation on properties of up to £500,000 and £500 cashback. An early repayment charge of 2% until 31/01/23 and 1% until 31/01/24 applies.
Both products are available at a maximum LTV of 80% and allow 10% overpayment per year in addition to the £499 regular monthly overpayment already permitted.
John Truswell, head of intermediary mortgages at Newcastle Building Society, said: “We’re seeing a downward trend in rates across all LTVs due to a number of factors, including a reduction in market activity with the closure of the stamp duty land tax window in June and a tightening of housing supply.
“So to better support borrowers in an ever-changing market, we’re refreshing our 80% range to give brokers and their clients more choice and some really competitive options to suit their needs.”