Newcastle Intermediaries enhances large loan proposition
29 October 2021
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.
To provide brokers and their clients an even greater choice the lender has also removed upfront reservation fees and reduced completion fees.
A new two-year fixed rate at 2.45% (3.7% APRC) is available at a maximum LTV of 65% for loans of between £1.5m and £2m.
An alternative two-year fixed rate is available at 2.55% (3.8% APRC) 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. An early repayment charge of 2% applies until 28.02.2023 and 1% until 29.02.2024.
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.”
All product details and the full range of available products can be found at www.newcastleis.co.uk
