Newcastle Intermediaries has announced new rate cuts across its 85% LTV range by up to 0.20%.

The lender stated that it is offering new rates on a number of two and five year-products, including a 0.20% reduction on a two-year fixed rate at 2.50%, which comes with product fees of £999.

A number of fee-assisted products have also been included in the lender’s refresh, including a two-year fixed rate which attracts no product fees and is available at 2.65% – a 0.15% reduction on its previous rate. An early repayment charge of 2% applies until 30 September 2022 and 1% until 30 September 2023 on both products.

For borrowers looking for a longer fix on a fee-assisted product, Newcastle Intermediaries also confirmed that it has a five-year fixed rate at 85% LTV available at 2.85%, which is a 0.14% reduction on its previous rate.

All products in the refreshed range attract free standard valuation and allow 10% overpayments per year.

Newcastle Building Society head of intermediary mortgages, John Truswell, commented: “We’re always reviewing the market to ensure our products remain competitive for clients and borrowers.

“Our latest refresh and improved pricing on our 85% LTV mortgages ensures that we continue to offer great value products to Intermediaries and their customers.”

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