Newcastle Intermediaries is cutting rates by up to 0.3 percentage points across its existing 80% LTV product range, and reintroducing a range of products at 60% LTV, including its remortgage exclusives and base rate trackers.
The updated range includes a remortgage two-year fixed rate at 5.49% (5.1% APRC) up to 60% LTV that comes with early repayment charges of 2% until 31/03/2024 and 1% until 31/03/2025. The product comes with no product fees, free base legal fees (if society nominated solicitor used), a free standard valuation and up to 10% overpayments per annum.
Also available is a two-year base rate tracker at 3.55% (4.8% APRC) up to 60% LTV that comes with early repayment charges of 1% until 31/03/2025. The base rate tracker comes with a £999 product fee and offers up to 10% overpayments per annum.
Franco Di Pietro (pictured), head of intermediary mortgages at Newcastle Building Society, said, “As significant numbers of homeowners look to re-mortgage or switch in the coming year, we recognise the importance of responding to the changing requirements of the market, and believe our new re-mortgage rates provide the ideal option for those coming to the end of their existing mortgage term.
“We’re pleased to announce we’ll be lowering rates across our existing 80% LTV range and re-introducing a range of 60% LTV products. These updates to our residential mortgage proposition deliver real benefits to customers with a range of circumstances, looking to purchase a property or re-mortgage their existing home, including fee assisted options for those customers who are looking for help with costs.”