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30 January 2019

Newcastle Intermediaries has announced it is reducing its buy-to-let rates by up to 0.40% across a selection of its two, three and five year fixed products.

A five year fix at 2.75% (4.8%APR), a reduction of 0.30% on its current rate, is available at a max LTV of 75%, 10% overpayments per annum facility and an early repayment charge of 5% until 31.05.2020, 4% until 31.05.2021, and 3% until 31.05.2022, 2% until 31.05.2023and 1% until 31.05.2024..

Alternatively, for borrowers not wanting to pay any product fees, a five year fix at 2.95% (4.8% APR), a reduction of 0.40% on its current, is also available at a max 75% LTV, free standard valuation, £500 cashback or free legal fees for re-mortgaging, 10% overpayments per annum facility and an early repayment charge of 5% until 31.05.2020, 4% until 31.05.2021, and 3% until 31.05.2022, 2% until 31.05.2023 and 1% until 31.05.2024.

The societies Interest Coverage Ratio is 145% at a rate of 4% for product terms of 5 years or more. Also there’s no maximum age for borrowers on BTL products.

Steve Carruthers, head of mortgage distribution at Newcastle Intermediaries, said: “This reduction of rates, especially on our longer five year fixed mortgages means landlords and other potential investors have the chance to save some money; either by reducing their current rate or by choosing our five year fixed mortgage with no fees to pay, £500 cashback or free legal fees for those who are re-mortgaging providing choice and flexibility.”

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