Two new discounted variable rate products have been added to the range and are available for up to 65% loan-to-value (LTV) for loans of between £1.5m and £2m.

The new 2-year discounted rate product is available at 2.25% and comes with free valuation and allows 10% overpayments per annum. A 1% early repayment charge applies until 31 January 2024.

A 5-year discounted rate product is available at 2.65% with no early repayment charges. .

Franco Di Pietro, head of intermediary mortgages at Newcastle, said: “We recently moved back into the large loan market with a wide range of products, realising our commitment to do more to support brokers and their higher earning clients.

“After listening to broker feedback we’re pleased to extend that range even further, increasing the maximum loan amount and introducing some new 65% LTV products to give borrowers even more choice.”

A fee of £1,999 is payable on both new products.