Newcastle Building Society has reduced the rates of 95 per cent loan to value (LTV) products by up to 0.56 per cent.
Its two-year fixed rate has fallen by 0.3 per cent to 2.79 per cent. The product comes with early repayment charge (ERC) of two per cent until 28 February 2023 and one per cent until 29 February 2023.
Its five-year fixed rate has gone down by 0.29 per cent to 3.19 per cent. It has early repayment charges of five per cent, which reduced by one per cent a year.
They come with no product fees and are subject to a free standard valuation up to £500,000 and £500 cashback.
Overpayments of 10 per cent are permitted in addition to £499 regular monthly overpayments.
Franco Di Pietro (pictured), head of intermediary mortgages, said: “We’re always listening to broker feedback and looking for ways to improve our product and proposition offer.
“We’re especially keen to support first time buyers and low-deposit borrowers so I’m confident these changes, including the removal of reservation fees, will give brokers and their clients a great range of options.”
The lender re-entered the 95 per cent LTV space in June, having last offered the products in March last year.
It has since cut the rates in this range by up to 0.25 per cent in May, 0.24 per cent in August and 0.26 per cent in September.
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.