Newcastle Building Society has reduced rates by up to 0.25 per cent across its two and five-year fee-assisted 90 per cent and 95 per cent loan to value (LTV) mortgages.
There is a two-year fixed deal at 95 per cent LTV with a rate of 3.55 per cent, down from 3.80 per cent. It has an early repayment charge (ERC) of two per cent during the first year of the fixed period and one per cent in the final year.
Also at 95 per cent LTV, the five-year fixed product has been reduced by 0.10 per cent to 3.79 per cent.
It has ERCs of five per cent during the first year of the fixed term, declining by increments of one percentage point until the final year.
The products have no fees, include free standard valuation on properties of up to £500,000 and offer £250 cashback.
Overpayments of 10 per cent per year are allowed alongside the £499 regular monthly overpayments already permitted.
John Truswell, head of intermediary mortgages at Newcastle Building Society, said: “The market continues to be very competitive in the higher LTV space and we’re seeing increased consumer confidence as demand continues to build.
“We’re pleased to be able to reduce rates across the higher LTV range to provide more options for brokers and their clients, along with several incentives and added flexibility.”
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
