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Newcastle updates large loan range

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  • 08/07/2022
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Newcastle updates large loan range
Newcastle Intermediaries has made changes to its large portfolio and introduced a number of fixed rate options.

The range include a two-year, five-year and 10-year fixed rate options.

The five-year fixed rate is priced at 3.7 per cent up to 80 per cent loan to value (LTV) and is available on loans up to £1.5m at 75 per cent LTV.

It comes with early repayment charges, which starts at five per cent and then falls one per cent per year.

The range allows enhanced income multiples of up to 5.5x income, which the lender said would give borrowers more choice and flexibility.

Products also permit up to 10 per cent overpayments and accepts up to 100 per cent bonus and commission, subject to underwriter discretion.

Franco Di Pietro (pictured), head of intermediary mortgages at Newcastle Building Society, said: “The updates to our large loans product portfolio enable us to continue to deliver a great range of options for brokers in meeting the needs of their higher-earning clients.

“This continued focus on our large loans proposition demonstrates our commitment to supporting our intermediary partners and their clients.”

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