Newcastle Intermediaries launches competitive 85 per cent products

Newcastle Intermediaries is launching two 85 per cent loan-to-value products for first-time buyers, home movers and remortgages.

It is offering a two-year fixed rate at 2.7 per cent with a £999 fee.

Alternatively borrowers can opt for a rate of 2.8 per cent with no fees.

For both deals, an early repayment charge of 2 per cent applies until the end of August 2022 and of 1 per cent until August 31 2023.

Both products offer a free standard valuation on properties worth up to £500,000 and permit overpayments of up to 10 per cent per year.

Newcastle head of intermediary mortgages John Truswell says: “We’re always looking at the changing needs of the market and have evolved our proposition to suit brokers and their clients. 

“These new 85 per cent products will support a variety of borrowers including first time buyers, home movers and existing home owners looking to remortgage.”