The largest rate reduction has been applied to its five-year fixed rate at 90 per cent LTV, which has fallen by 0.41 per cent to 2.89 per cent.
The lender’s five-year fixed rate at 95 per cent LTV has decreased by 0.24 per cent to 3.45 per cent.
Both products are subject to a £499 fee and have early repayment charges (ERCs) of five per cent until 31st January 2023. These ERCs reduce by one per cent every consecutive year until 2027.
Overpayments of 10 per cent per year are allowed, in addition to £499 permitted monthly overpayments.
The lender is also offering free standard valuation on properties up to £500,000 in value and doubled cashback to £500 on select products. There are also fee-free options available for borrowers.
Franco Di Pietro (pictured), Newcastle Building Society’s intermediary mortgages head, said that the mutual was pleased to give brokers and their clients increasingly competitive options across its range.
He added that the reduced rate along with the increased cashback would better support first-time buyers, home movers and customers who were looking to remortgage.
The lender re-entered high LTV mortgages in June, having withdrawn its higher LTV products in March last year.
The mutual has made several changes to its high LTV range in recent months, cutting rates in its 90 and 95 per cent LTV mortgages by up to 0.25 per cent in July.
The lender is also participating in higher LTV mortgage schemes, like the First Homes Scheme which provide 95 per cent LTV mortgages as part of the government scheme.
It was also the first lender to launch 95 per cent LTV new-build deal under insurance-backed mortgage scheme Deposit Unlock.
