Newcastle Intermediaries has introduced two 80 per cent LTV mortgages with rates from 1.89 per cent.

The two- and five-year fixed rates can be used by customers purchasing a home or remortgaging.

The two-fixed rate at 1.89 per cent (5.1 per cent APRC) is available at a max LTV of 80 per cent. An early repayment charge of 2 per cent applies until 31 January 2022 and 1 per cent until 31 January 2023.

A five-year fixed rate at 2.29 per cent (4.6 per cent APRC) is also available at a max LTV of 80 per cent. An early repayment charge of 5 per cent applies until 31 January 2022, 4 per cent until 31 January 2023, 3 per cent until 31 January 2024, 2 per cent until 31 January 2025 and 1 per cent until 31 January 2026.

Both mortgages come with product fees of £999 and offer 10 per cent overpayments per annum to support customers who require the flexibility to make lump sum capital payments.

Newcastle Building Society head of intermediary mortgages John Truswell says: “We’re pleased to be introducing a further two competitive 80 per cent mortgages to our current offering to increase product options for brokers and their clients.”