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14 March 2019

Following expansion of its product transfer proposition for the intermediary market in January, Newcastle Intermediaries announces a refresh of its product transfer range, exclusive to existing customers.

Designed to reward loyalty, the refreshed products offer existing customers beneficial rates which are highly competitive. These include new and improved 90% and 95% LTV products, all of which are now available on sourcing systems.

A fee free 2 year fixed at 2.85% (5.20% APR) a 0.20% reduction on current rate is available at a max LTV of 95%.

Alternatively, a 5 year fix at 3.29% (4.90% APR) a 0.16% reduction on current rate is also available at a max LTV of 95%.

Stuart Miller, customer director at Newcastle Intermediaries, said: “We’re committed to rewarding the loyalty of customers who choose to stay with us and transfer to another of our products - and these enhanced rates reflect that. Our recent expansion of our product transfer proposition to our intermediary partners acknowledges the important role they play for customers when reviewing their options at maturity.”

He added:
“Product transfers were the fastest growing area in the mortgage market in 2018, and according to mortgage industry speakers at the Financial Services Expo this year product transfers are likely to dominate the mortgage market in 12 months’ time. We are in good shape to meet that demand from brokers and customers.”

All registered brokers can process product transfers through Newcastle Intermediaries and receive a 0.2% procuration fee. Details of the process can be found via Newcastle Intermediaries website www.newcastleis.co.uk