The lender said that it will include products up to 85% loan to value (LTV) and increased loan amounts below 80% LTV.
The firm has also increased the amount allowed for part and part mortgages up to 85% LTV. The maximum LTV for interest-only is 75%.
Newcastle Building Society will allow the use of a combination of repayment vehicles, including downsizing via the sale of mortgaged property.
Downsizing remains capped at 60% and has minimum equity requirements, and additional repayment vehicles can be used up to a maximum LTV of 75%.
The firm’s two-year fixed rate in this range is 5.7% up to 85% LTV for loans from £500,000 and £1m. It has early repayment charges (ERCs) starting at 2% in the first year of the term and then going down to 1%.
Newcastle Building Society also offers a five-year fixed rate at 5.2% up to 85% LTV for loans between £500,000 and £1m. It has ERCs that start at 5% then fall 1% per year.
The product comes with a £1,999 fee, offers enhanced income multiples of up to five-and-a-half times and allows up to 0.1% in overpayments per year.
Franco Di Pietro, head of intermediary mortgages at Newcastle Building Society, said: “We’re always listening to our broker partners, which is why we’ve taken the decision to expand our large loan proposition to include 85% LTV products and increase loan amounts across all LTVs.
“The updates to our large loans proposition not only reflect our commitment to supporting our intermediary partners, but enable us to continue to deliver a great range of options for brokers and their higher-earning clients.”
Clydesdale Bank ups select rates
Clydesdale Bank has increased select exclusive remortgage, professional, offset discount and new and existing customer deals.
On the exclusive residential side, two- and five-year fixed rate remortgage deals at 75% LTV will go up by around 0.3%, along with selected two- and five-year fixed purchase rates.
Two- and five-year fixed rates for loans between £1m and £2m at 65% and 75% LTV will rise by around 0.2%.
In its professional range, two- and five-year fixed rates at 75% LTV will go up by around 0.35% and all offset discount rates will increase by around 0.1%.
Two- and five-year fixed rates at 65% and 75% LTV in its new and existing customer range will rise by around 0.2%.
