A 95% LTV 2-year fixed rate is now available at 3.09% (3.9% APRC).

The product comes with zero product fees and offers free standard valuation on properties up to £500,000, as well as cashback of £500.

The same cut has been applied to a 2-year fixed rate now offering 95% LTV at 2.99% (3.9% APRC), with a £499 product fee payable on completion.

An early repayment charge (ERC) of 2% until 31 January 2023 and 1% until 31 January 2024 applies on both products, but allows borrowers to make overpayments of 10% per year.

Franco Di Pietro, head of intermediary mortgages at Newcastle Intermediaries, said: “We’re keeping our higher LTV products competitive by refreshing the range and looking for new ways to support brokers and their clients.

“As well as first time buyers, the products are also available for home movers and customers looking to re-mortgage with us, who will all benefit from our wider offer, leading service levels and bespoke underwriting approach.”