Newcastle Intermediaries enhances large loan proposition

Newcastle Intermediaries has enhanced its large loan proposition with the introduction of new two-year fixed rate products and a rate cut across the range.

Related topics:  Mortgages
Rozi Jones
29th October 2021
Newcastle Building Society
"Since re-entering the large loan market we’re constantly assessing our range based on broker feedback and making changes to ensure products offer borrowers a real choice."

The lender has also removed upfront reservation fees and reduced completion fees.

A new two-year fixed rate at 2.45% is available up to 65% LTV for loans of between £1.5m and £2m.

An alternative two-year fixed rate is available at 2.55% up to 80% LTV for loans of between £500k and £1m or up to 75% LTV for loans between £1.5m and £2m.

A product fee of £1,499 is payable on all products in the range and 10% overpayments per annum are permitted to support borrowers who require the flexibility to make lump sum overpayments.

Franco Di Pietro, head of intermediary mortgages, said: “Since re-entering the large loan market we’re constantly assessing our range based on broker feedback and making changes to ensure products offer borrowers a real choice. I’m confident our tailored lending approach including direct access to our underwriters and these updates to our range will meet the unique needs of higher earning clients.”

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