New 85% loan to value deals announced by Newcastle Intermediaries

October 22, 2020 by Brendan O'Neill

Lenders

Newcastle Intermediaries is introducing a new range of mortgage products, with these deals being 85% loan to value (LTV), some of which will come with no additional product fees.

The lender has stated that this range of new mortgage loans will be available to a wide variety of potential borrowers, including remortgage customers, first-time homebuyers and those looking to move to a new home. The rates for the products within this range will begin from 2.85% for two-year fixed deals with maximum 85% LTV and 5.3% annual percentage rate of charge. The fee for this product is £999.

Borrowers opting for that deal will also have early repayment charges of 2% liable until January 31st, 2022, and 1% up until the same time the following year. However, they also have the option of choosing a two-year fixed deal with 2.99% rates, which does not come with any completion or reservation fees. This would leave borrowers facing just legal costs on top of the repayments.

Newcastle Building Society’s Head of Intermediary Mortgages, John Truswell, told Mortgage Finance Gazette that the company was delighted to be able to offer more choice to potential borrowers, before adding:

“We pride ourselves on our customer service and brokers can be assured their clients will receive the highest levels of service for mortgage applications and processing.”

More products on the market only makes it easier for advisors with the appropriate CeMAP training to find deals that meet the needs of clients.