A two-year product is now available at 4.90% for up to 65% LTV on loans between £1.5m and £3m. The product comes with early repayment charges of 2% until 31st August 2026 and 1% until 31st August 2027, as well as a £1,999 product fee.
The range allows for up to 100% bonus/commission subject to underwriter discretion, and allows enhanced income multiples of up to 5.5. The large loans proposition also supports up to 10% overpayments.
Franco Di Pietro, head of intermediary mortgages at Newcastle Building Society said:
“We’re always looking for ways to make our large loan product range more attractive to brokers and their clients, and following a review of our rates we’re pleased to make these reductions to our proposition which reflect the current rate environment.”
