Newcastle Building Society has brought back its large loan product range, which is available up to 65 per cent loan to value (LTV).
The two-year product is available at 6.45 per cent and can be used for loans between £1.5m and £2m.
It comes with early repayment charges (ERC) of two per cent for the first year and then one per cent in the second year.
The range comes with enhanced income multiples of up to 5.5x, which the lender said will give more “choice and flexibility”.
The product permits 10 per cent overpayments and accepts up to 100 per cent bonus and commission, subject to underwriter discretion.
Newcastle: Ranged updated
The large loans range also comes with a “dedicated service offering” with direct access to the mutual’s underwriting team.
Franco Di Pietro (pictured), head of intermediary mortgages at Newcastle Building Society, said: “We have updated our large loan product portfolio in line with the current rate environment, and are pleased to be able to reintroduce the range to market reflecting our continued commitment to supporting our intermediary partners and their clients.”
Newcastle has been updating its range, recently adding deals up to 95 per cent LTV and increased its Standard Variable Rate.
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.
