Newcastle Intermediaries has announced new rate reductions by up to 0.25% across its two and five-year fee-assisted 90% and 95% LTV mortgages.

The products reduced as part of the move all come with no product fees and include free standard valuation on properties of up to £500,000, as well as £250 cashback.

Overpayments of 10% per year are permitted in addition to the £499 regular monthly overpayments already permitted, the lender confirmed.

Newcastle Intermediaries stated that a two-year fixed rate at 3.55% and 95% LTV is now available, representing a 0.25% reduction on the previous rate. The lender is also now offering a five-year fixed rate at 3.79% at 95% LTV.

“The market continues to be very competitive in the higher LTV space and we’re seeing increased consumer confidence as demand continues to build,” Newcastle head of intermediary mortgages, John Truswell, commented.

“We’re pleased to be able to reduce rates across the higher LTV range to provide more options for brokers and their clients, along with several incentives and added flexibility.”

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