Newcastle Building Society has cut the rates on three of its 85 per cent loan to value (LTV) products by up to 0.2 per cent.
The lender has cut its two-year fixed at 85 per cent LTV by 0.2 per cent to 2.3 per cent. It is subject to a product fee of £499. Its fee-free two-year fixed rate has also been cut by 0.1 per cent to 2.55 per cent.
Both products are subject to an early repayment charge (ERC) of two per cent in the first year of the fixed period and one per cent in the final year.
The lender has also cut its fee-free two discounted rate product by up 0.05 per cent, and it has an ERC of one per cent.
All the products have a free standard valuation on properties up to £500,000 and permit 10 per cent overpayments per year, in addition to the £499 regular monthly overpayments allowed.
Newcastle Building Society’s intermediary mortgages head John Truswell (pictured) said: “We’re always listening to broker feedback and know it’s important to keep the range fresh in a very competitive market.
“Customers will benefit from the reductions on offer as well as our manual underwriting approach and leading service levels.”
The lender has been adapting its offering in recent months, adding products to its joint mortgage sole proprietor portfolio and reentered high LTV mortgages. It has also relaunched its Help to Buy range for first time buyers.
Anna is currently the deputy editor for Mortgage Solutions and editor for Specialist Lending Solutions. She has worked as a journalist since 2019, having secured her Gold Standard NCTJ diploma from News Associates in a fast-track six-month course.
She started her career as a report at specialist publication The Insurance Insider covering a wide range of areas before joining Mortgage Solutions and Specialist Lending Solutions in 2021.
In her role, she helps put together and structure the news agenda for the day and writes up press releases, reports, interviews, analyses and exclusives across both titles. She also commissions blogs for Specialist Lending Solutions and hosts online masterclasses and in-person events across the business.
She has been shortlisted for three journalism awards, which include BIBA Journalist and Media Awards Scoop of Year Award in 2020, Headline Money Mortgage Journalist of the Year Award (B2B) in 2022 and 2023.
Prior to being a journalist, Anna worked in ecommerce across Snow + Rock, Cycle Surgery and Runners Need websites, and before that worked at specialist financial PR firm Rostrum.
In her spare time, Anna enjoys reading, seeing live music, and cooking for friends and family. When she gets a chance, she also enjoys hiking, skiing and indoor rock climbing.
