Newcastle Intermediaries has boosted its large loan products with the launch of new two-year fixed rate products as well as cutting rates across the range.

The broker-only unit of Newcastle Building Society adds that it has removed upfront reservation fees and reduced completion fees.

The lender has added a new two-year fixed-rate deal at 2.45% (3.7% annual percentage rate of charge) available at a maximum loan to value of 65% for loans of between £1.5m and £2m.

An alternative two-year fixed rate is available at 2.55% (3.8% APRC) up to 80% LTV for loans of between £500,000 and £1m or up to 75% LTV for loans between £1.5m and £2m.

A product fee of £1,499 is payable on all products in the range and 10% overpayments per year are permitted to support borrowers who require the flexibility to make lump sum overpayments.

An early repayment charge of 2% applies until 28 February 2023 and 1% until 29 February 2024.

Newcastle Intermediaries head of intermediary mortgages Franco Di Pietro says: “Since re-entering the large loan market we’re constantly assessing our range based on broker feedback and making changes to ensure products offer borrowers a real choice.

“I’m confident our tailored lending approach including direct access to our underwriters and these updates to our range will meet the unique needs of higher earning clients.”