Newcastle Intermediaries has made changes to its 80% mortgage range by cutting rates across the portfolio and introducing a new two-year fixed rate.
The two and five-year deals are available for both purchase and remortgaging.
The new two-year fixed rate is available at 2.45% (3.8% APRC) at a maximum LTV of 80% and comes with product fees of £199 to pay. The product also offers free standard valuation and £500 cashback.
An early repayment charge of 2% until 31/08/22 and 1% until 31/08/23 applies.
Also available at a maximum LTV of 80%, the lender’s refreshed five-year fixed rate at 2.24% (3.4% APRC) is a 0.05% reduction on its previous rate. This has product fees of £999 to pay and an early repayment charge of 5% until 31/08/22, 4% until 31/08/23, 3% until 31/08/24, 2% until 31/08/25 and 1% until 31/08/26 also applies.
The mutual is also introducing a two-year discounted product currently paying a rate of 1.45% (2.51% discount from SVR) until 31/08/23 (3.6% APRC) which comes with product fees of £999 to pay, and which attracts early repayment charges of 2% until 31/08/22 and 1% until 31/08/23.
10% overpayment facilities apply across all products.
John Truswell (pictured), head of intermediary mortgages at Newcastle Building Society, said: “We’re continuing to see strong demand in the market, partly fuelled by the extension of the stamp duty tax concession.
“By refreshing our 80% range we’re giving brokers and their clients more choice and some really competitive options to suit their needs, underpinned by our manual underwriting and customer service.”
