Newcastle for Intermediaries has cut rates on large loan deals by up to 26 basis points, while Principality is lowering some rates and increasing others.
Following the price cuts at Newcastle, a two-year fixed rate at 65% loan-to-value is now 4.9% with a £1,999 fee for loans between £1.5m and £3m.
The range allows for up to 100% bonus or commission, subject to underwriter discretion and loans can be up to 5.5x income.
Newcastle head of intermediary mortgages Franco Di Pietro says: “We’re always looking for ways to make our large loan product range more attractive to brokers and their clients and following a review of our rates we’re pleased to make these reductions to our proposition which reflect the current rate environment.”
Meanwhile, Principality is lowering rates on a wide range of deals by up to 22 bps, while increasing shared ownership and new build high LTV deals by up to 66 bps.
The biggest reductions are to five-year fixes in its residential range, with rates at 65% LTV falling by up to 22 bps and at 75% LTV falling by up to 21 bps.
Lots of other two and five-year rates, including cashback deals, joint borrower sole proprietor products and holiday lets are also dropping by lesser amounts.
But a number of 95% LTV rates are rising, including new-build five-year fixes by 15 bps, shared ownership two-year fixes by 42 bps and shared ownership five-year fixes by 66 bps.
