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24 September 2018

Newcastle Intermediaries has announced it is reducing its buy-to-let rates by up to 0.64% across its full range.

The reductions include a two year re-mortgage deal as well as a number of fixed rates available from two year to five year for re-mortgages and home movers. The largest reduction has been on the five year fixed rate product now available at a rate of 3.05%.

The re-mortgage deal, for those who already have a buy-to-let mortgage, is a two year fixed rate at 2.82% (5.5% APR) available with no product fees to pay and comes with free standard valuation, £500 cashback or free legal fees and 10% overpayments per annum with an early repayment charge of 2% until 31 January 2020 and 1% until 31 January 2021.

Another five year buy-to-let deal is offered at a fixed rate of 3.05% (4.9% APR) with fees of £999, a 10% per annum overpayment option, and an early repayment charge of 5% until 31 January 2020, 4% until 31 January 2021, 3% until 31 January 2022, 2% until 31 January 2023 and 1% until 31 January 2024. This deal is available both to future investors and those looking to re-mortgage at a slightly lower rate.

Steve Carruthers, head of mortgage distribution at Newcastle Intermediaries, said: “At a time when buy-to-let mortgage rates are increasing and the buy-to-let market continues to readjust itself to the taxation changes made last year, we’re pleased to announce a reduction in our rates to give landlords and other potential investors the chance to save some money.”

All product details and the full range of available products can be found at www.newcastleis.co.uk