Newcastle Intermediaries has expanded its large loan range and increased its maximum loan amount to £2m.
The lender confirmed the addition of two new discounted variable rate products to its range, which will be available up to 65% LTV for loans of between £1.5m and £2m. The range allows enhanced income multiples of up to 5.5.
Newcastle also confirmed that its new two-year discounted rate product is available at 2.25%, representing a discount of 1.71% from the lender’s standard variable rate (SVR) of 3.96%. Alternatively, a five-year discounted rate product will be available at 2.65%, which is a 1.31% discount on the lender’s SVR.
Newcastle head of intermediary mortgages, Franco Di Pietro, commented: “We recently moved back into the large loan market with a wide range of products, realising our commitment to do more to support brokers and their higher earning clients.
“After listening to broker feedback we’re pleased to extend that range even further, increasing the maximum loan amount and introducing some new 65% LTV products to give borrowers even more choice.”
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