Newcastle Intermediaries returns to large loan market

Newcastle Intermediaries has announced it is re-entering the large loan market with a new proposition and products available up to 80% LTV.

The lender’s range allows income multiples of up to 5.5 times for loans between £500,000 and £1.5m, subject to criteria.

A two-year discounted rate is available at 2.35% which represents a 1.61% discount from the lender’s SVR. The product comes with free standard valuation and allows 10% overpayments per annum in addition to the £499 regular monthly overpayment already permitted.

For borrowers wanting to fix for longer, Newcastle Intermediaries confirmed a five-year discounted rate of 2.75% will be available which is a 1.21% discount from the lender’s SVR. This product comes with no early repayment charges providing borrowers with flexibility to make increased overpayments.

Following his recent promotion to head of intermediary mortgages at Newcastle Building Society, Franco Di Pietro, commented: “We’re delighted to move back into the large loan market and support our intermediary partners in providing additional mortgage options for our mutual clients.

“We’re seeing strong demand in the market for loans between £500,000 and £1,500,000, this re-launch will provide greater choice for borrowers whilst brokers will also have direct access to our experience underwriters and bespoke service proposition.”

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