Newcastle Intermediaries has reduced rates across its 80 per cent LTV mortgage range and added a two-year fixed rate product to its line-up.

The new product is available at up to 80 per cent LTV with a rate of 2.45 per cent. It features a product fee of £199, £500 cashback and a free standard valuation.

Among the rate cuts, the lender’s 80 per cent LTV five-year fix has had 5 basis points removed to bring it to 2.24 per cent. This comes with a product fee set at £999.

Newcastle Building Society head of intermediary mortgages John Truswell says: “We’re continuing to see strong demand in the market, partly fuelled by the extension of the stamp duty tax concession.

“By refreshing our 80 per cent range we’re giving brokers and their clients more choice and some really competitive options to suit their needs, underpinned by our manual underwriting and customer service.”