Newcastle for Intermediaries has reduced rates across its product transfer range.

The revised range, available now, includes rates starting from 3.69%, with reductions of up to 0.14% across a variety of fixed-rate terms and LTV bands, up to 95% LTV.

According to the lender, the updated product transfer proposition will give brokers greater flexibility when helping borrowers secure a new deal ahead of maturity. Customers can transfer to a new deal up to three months before the existing product ends.

Commenting, Newcastle Building Society head of intermediary mortgages Francesco Di Pietro said: “We know how important it is for brokers to be able to offer existing customers competitive options as they approach maturity. Over 70% of our customers with a product maturing this year will see a reduction in rate, so by allowing brokers to switch their clients’ deals three months before maturity, borrowers can start saving straight away, it also means brokers don’t need to wait until maturity to receive their proc fee.”