Newcastle Building Society has reduced rates on its five year buy-to-let mortgage proposition by up to 0.20 per cent.
Its five-year fixed rate product is now available at 2.49 per cent which is a 0.20 per cent reduction on its current rate.
It comes with fees of £999 and an early repayment charge of five per cent until 30 April 2021, four per cent until 30 April 2022, three per cent until 30 April 2023, two per cent until 30 April 2024 and one per cent until 30 April 2025.
Alternatively, a fee-free five-year product is available at a fixed rate of 2.70 per cent – a 0.16 per cent rate reduction.
The product comes with free standard valuation and £500 cashback.
It also includes an early repayment charge of five per cent until 30 April 2021, four per cent until 30 April 2022, three per cent until 30 April 2023, two per cent until 30 April 2024 and one per cent until 30 April 2025.
Both products are available at a maximum loan to value (LTV) of 75 per cent and come with 10 per cent overpayments allowed per annum.
John Truswell (pictured), head of intermediary mortgages, said: “We’re pleased to announce a reduction in our five-year rates alongside refreshing end dates for our customers.”
Shekina is the deputy editor at Mortgage Solutions and commercial editor at Mortgage Solutions and Specialist Lending Solutions. She has nearly eight years of experience in the B2B publishing market, having previously covered the hospitality, retail, pet, accounting and jewellery sectors.
Shekina has worked for Mortgage Solutions and Specialist Lending Solutions for almost five years. Here, she covers the market’s breaking news stories, engages with professionals in the sector, and oversees any commercially agreed content in partnership with mortgage-related companies.
This includes presenting webinars and hosting roundtable discussions on developing themes in the mortgage sector.
She is an NCTJ-trained journalist and was nominated for the Headline Money Awards Mortgage Journalist of the Year in 2021.
In her spare time, Shekina likes to read, travel, listen to music and socialise with friends.
She currently reports on current events in the mortgage market and liaises with financial clients to produce sponsored content.
Follow her on Twitter at @ShekinaMS
