The lender said a two-year discounted rate was available at 1.90 per cent (3.6 per cent APRC) up to 75 per cent loan to value (LTV) for loans of between £1,000,001 and £1.5m. That would be 0.45 per cent reduction from the previous rate.
Another option, it said, was a two-year fixed rate at 2.39 per cent (3.7 per cent APRC) at a maximum LTV of 65 per cent for loans of between £1,500,001 and £2m. That was equivalent to 0.06 per cent less than the previous rate.
The lender said its large loan range also offered interest-only options and direct access to underwriters.
Newcastle Intermediaries is an arm of Newcastle BS, the largest building society in the North East.
Franco Di Pietro (pictured), head of intermediary mortgages, said: “We’ve enhanced our large loan range with significant rate reductions and believe our tailored lending approach and overall proposition offers higher earning borrowers a compelling option.”
All loans in the range include a product fee of £1,499, with 10 per cent overpayments per year being allowed to help borrowers who need to make lump-sum deposits. Newcastle added that early repayment charges applied across the range.
