Newcastle Intermediaries has expanded its remortgage range with the addition of two new 60% LTV products.
In response to consumer demand and feedback from intermediary partners, the lender has introduced a two-year fixed rate at 2.95% at a maximum of 60% LTV.
A five-year fix at 3.10% is also available at 60% LTV. Both products are for remortgage customers only and come with zero product fees, offer a free standard valuation and free legal fees (should the Society‘s solicitor be nominated).
The two-year fix attracts an early repayment charge of 2% until 31.08.2023 and 1% until 31.08.2024. The five-year product attracts early repayment charges of 5% until 31.08.2023, 4% until 31.08.2024, 3% until 31.08.2025, 2% until 31.08.2026 and 1% until 31.08.2027 however, both products allow 10% overpayments per year.
Franco Di Pietro, head of intermediary mortgages said: “We know that with the rising cost of living and recent increases to base rate, even more homeowners are looking to remortgage on the best possible terms. By introducing two new 60% products and assistance with fees, we’re giving brokers and their clients some competitive options backed by our flexible approach to underwriting and leading service levels.”
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