Changes apply to its two- and five-year fixed rates up to and including 95% loan to value (LTV). The mutual has also introduced fee-assisted and cashback on selected 90% and 95% LTV options.
This includes its fee-free two-year fix at 90% LTV, priced at 5.6% with £200 cashback, and the five-year fixed equivalent, which has a rate of 5.6%.
Francesco Di Pietro, head of intermediary mortgages at Newcastle Building Society, said: “Despite recent uncertainty in the markets, we’re keen to support brokers and their clients with competitive pricing where possible.
“These rate reductions, along with fee assistance and cashback options, will give borrowers new options in a difficult market.”
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Santander ups PT rates
Santander has announced increases of up to 0.32% across its fixed rate product transfer deals.
On 9 April, most of its residential product transfer rates, including two-, three-, five- and seven-year fixes, will be increased by as much as 0.32%.
Changes will also be made to buy-to-let (BTL) product transfer rates, with two- and five-year fixes at 60% and 75% LTV going up by as much as 0.25%.
TSB amends LTIs
TSB has made changes to its loan-to-income (LTI) multiples for employed and self-employed borrowers accessing loans up to 85% LTV.
For those earning between £50,001 and £75,000 per year, where one or more applicants are self-employed, an LTI ratio of five times income will be applied.
For those earning more than £75,000, the income multiple will be 5.5 times income.
