Newcastle Intermediaries has introduced new three-year fixed rates to its portfolio of residential mortgages.

As part of an update to its portfolio of residential mortgages, the lender has launched a new range of three-year fixed rates that aims to help meet the needs of borrowers with lower deposits looking to achieve their homeownership goals.

The offering includes a 95% LTV three-year fixed rate at 3.8% that comes with early repayment charges (ERCs) of 3% until 31 October 2023, 2% until 31 October 2024 and 1% until 31 October 2025.

Newcastle Intermediaries confirmed the product is available on house purchases as well as to those looking to remortgage, up to £500,000, and comes with zero product fees as well as offering £500 cashback and the flexibility of 10% overpayments per annum.
 
Head of Intermediary mortgages at Newcastle Building Society, Franco Di Pietro, said: “As average UK house prices reach an all-time high this year, more borrowers are looking to purchase properties with smaller deposits.

“The introduction of a new range of higher LTV three-year fixed rates underlines our commitment to providing brokers with attractive solutions that meet the needs of their clients. Whether borrowers are looking to purchase or remortgage, our higher LTV range continues to provide choice to lower deposit borrowers.”

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