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Newcastle BS slashes rates at 95 per cent LTV

  • 29/09/2021
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Newcastle BS slashes rates at 95 per cent LTV
Newcastle Building Society has cut the rates on select two-year fixed rate deals at 95 per cent loan to value (LTV) by up to 0.26 per cent.


The mutual has reduced its two-year fixed rate from 3.35 per cent to 3.09 per cent. It has no product fees, free standard valuation for properties up to £500,000 and £500 in cashback.

Its other two-year fixed rate, which comes with a £499 product fee on completion, has fallen from 3.25 per cent to 2.99 per cent.

Both products have early repayment charges of two per cent until 31st January 2023, which falls to one per cent until 31 January 2024. Borrowers are also allowed to make 10 per cent overpayments.

Newcastle’s intermediary mortgages head Franco Di Pietro (pictured) said: “We’re keeping our higher LTV products competitive by refreshing the range and looking for new ways to support brokers and their clients.

“As well as first-time buyers, the products are also available for home movers and customers looking to remortgage with us, who will all benefit from our wider offer, leading service levels and bespoke underwriting approach.”

The lender re-entered the 95 per cent LTV space in June, having last offered the products in March last year. This includes a two-year fixed rate and five-year fixed rate deals at 3.8 per cent.

It went on to cut select 95 per cent LTV rates in May by up to 0.25 per cent, and by 0.24 per cent in August.

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