Newcastle for Intermediaries has cut fixed rates across its 95% LTV mortgage range of up to 15 basis points and introduced new features to boost its first-time buyer home loans.  

The mutual says its revamped range includes two and five-year fixes at 95% LTV with no product fees, a free standard valuation and £200 cashback on selected products. 

It has also shortened the time from completion to payment of the cashback to five days from 14 days. 

The move comes after the building society relaxed its short and long-term residential stress rates, allowing customers to borrow up to six times loan to income, earlier this month. 

Newcastle Building Society national account manager Michelle Ash says: “These changes reflect the evolving market conditions and our commitment to supporting FTBs and those needing a higher LTV product. 

“We’ve priced the range to be competitive for intermediaries working with clients who need 95% LTV, and the faster cashback payment is a practical change that will make a real difference at completion.”