Newcastle Intermediaries has cut rates on three products in its 85% loan-to-value range by up to 20 basis points.

The broker-only arm of Newcastle Building Society has made a 0.20% cut on a two-year fixed-rate loan, now at 2.30% (3.8% annual percentage rate charge), with a product fee of £499.

It also offers a fee-free two-year fix, now at 2.55% (3.8% APRC), down by 0.10%. An early repayment charge of 2% applies until 31 December 2022 and 1% until 31 December 2023 on both fixed-rate products.

And a fee-free two-year discounted rate at 2.30% (3.8% APRC), down by 0.05%, with an early repayment charge of 1% until 31 December 2023.

All of the above products come with a free standard valuation on properties up to £500,000 and allow 10% overpayments per year in addition to the £499 regular monthly overpayments permitted.

Newcastle Building Society head of intermediary mortgages John Truswell says: “We’re always listening to broker feedback and know it’s important to keep the range fresh in a very competitive market.

“Customers will benefit from the reductions on offer as well as our manual underwriting approach and leading service levels.”