Examples include its five-year fixed rate at 90 per cent LTV which is now priced at 4.8 per cent, and its five-year fixed rate at 95 per cent LTV with a rate of 5.25 per cent.
Both come with early repayment charges of five per cent in the first year, which then fall by one per cent over the term.
They are both available for purchase and remortgage, have no fee, overpayment facility of 10 per cent and free standard valuation up to £500,000.
Franco Di Pietro, head of intermediary mortgages at Newcastle Building Society, said: “As the market continues to evolve we’re pleased to reduce our five-year fixed rate 90 to 95 per cent LTV products, providing first-time buyers and low deposit borrowers with greater support, and to give brokers additional competitive options to present to their clients.”
TMW lowers switch deals
The Mortgage Works (TMW) has cut rates for select five-year fixed rate switcher deals by up to 0.1 per cent.
The changes come into force from tomorrow.
In its limited company range, five-year fixed rates are being lowered by up to 0.1 per cent.
This includes its five-year fixed rate at 75 per cent LTV with three per cent fee, which has gone down by 0.1 per cent to 5.09 per cent.
Similar changes have also been applied to its houses in multiple occupation (HMO) range and large portfolio HMO range.
Other rate and fee combinations are also available.
Dan Clinton, director of landlord at The Mortgage Works, said: “We are making further reductions to the rates on our buy-to-let switcher products, which will ensure our range remains front of mind and a competitive option for landlords coming to the end of their existing deal.”
