Newcastle Intermediaries has cut rates on its large loan range by up to 0.45%.

At up to 75% LTV, the two-year discounted rate is priced at 1.90% for loans between £1m and £1.5m, a 0.45% cut in the previous rate.

In addition, a two-year fixed rate with a 65% LTV has a fixed rate of 2.39%. This represents a 0.06% reduction.

All products have a £1,499 product fee and allow for a 10% overpayment per year.

Newcastle Intermediaries large loan range offers enhanced income multiples of up to 5.5 times, along with interest-only options.

Head of intermediary mortgages Franco Di Pietro says the firm strives to make the product range more attractive to brokers and clients.

“We’ve enhanced our large loan range with significant rate reductions and believe our tailored lending approach and overall proposition offers higher earning borrowers a compelling option.”