Newcastle Intermediaries is re-entering the high LTV mortgage market sector with a number of 90% and 95% loan to value (LTV) products.
The lender has released a series of two and five-year rates, including several with zero product fees.
A two-year fixed rate at 3.80% (4.0% APRC) is available at 95% LTV and comes with no product fees to pay. An early repayment charge of 2% applies until 30/11/2022 and 1% until 30/11/2023.
For borrowers wanting to fix for longer, a five-year fixed rate at 3.89% (4.0% APRC) is also available at 95% LTV and has no product fees. An early repayment charge of 5% until 30/11/2022, 4% until 30/11/2024, 3% until 30/11/2024, 2% until 30/11/2025 and 1% until 30/11/2026 also applies.
All of the products in the re-launched range offer a free standard valuation, and 10% overpayments per annum. Selected products also offer £250 cashback to support with any legal or moving fees.
John Truswell (pictured), head of intermediary mortgages at Newcastle Building Society, said: “We’re delighted to be re-entering the higher LTV market with a range of competitive mortgages to support a variety of borrowers. As well as first time buyers, second steppers, home movers and re-mortgage customers can all benefit from higher LTV products which are currently limited elsewhere in the market.
“This range builds on some of the initiatives we’ve recently announced, and provides low-deposit borrowers with even more choice in the market. Whether it’s through these products, our involvement in the First Homes initiative, or our participation in the Deposit Unlock scheme, we pride ourselves on being able to support brokers and their clients – whatever their needs may be.”