Newcastle Intermediaries has reduced rates within its 85 per cent LTV range by up to 20 basis points.

The highlight is the 20 basis point cut on the two-year fix with £999 fee, which is now set at 2.50 per cent.

In the lender’s fee-assisted range, the two-year fix has received a 15 basis point cut to come to 2.65 per cent and the five-year fix has been reduced by 14 basis points to bring the rate to 2.85 per cent.

All of the above products include a free standard valuation and allow for 10 per cent in overpayments per year.

Newcastle Building Society head of intermediary mortgages John Truswell says: “We’re always reviewing the market to ensure our products remain competitive for clients and borrowers.

“Our latest refresh… ensures that we continue to offer great value products to Intermediaries and their customers.”