This partnership includes an increase to the loan to income (LTI) from 5.25% to 5.75%, along with a new set of two-year and five-year fixed rate mortgages.
Among the new products are a two-year fix of 2.59% at 60% loan to value (LTV) and a five-year fixed of 3.29% at 80% LTV.
The mortgages come with free valuations, 10% overpayments and fees of £1,499.
The loans start at £500,000 and go to £1.5m.
Members who need more guidance on larger loans can use Legal & General Mortgage Club’s services, such as its live mortgage chat function.
Danny Belton, head of lender relationships, Legal & General Mortgage Club (pictured), said: “Legal & General Mortgage Club has a strong relationship with Newcastle Intermediaries and we are delighted to work with them to build and support this proposition and bring exclusive products to our members.”
Steve Carruthers, head of mortgage distribution, Newcastle Intermediaries, added: “We’re looking forward to working with Legal & General Mortgage Club to give this exclusive offer to their members.
“We’re committed to supporting large loan customers, offering them both flexibility and choice.
“Our underwriters consider affordability on a case by case basis and we’re confident that through Legal & General Mortgage Club we will help more advisers meet the needs of their customers.”
