The new fee-assisted products offer a free standard valuation on properties up to £500k as well as £500 cashback and 10% overpayments per annum.

John Truswell, head of intermediary mortgages at Newcastle Building Society, said: “We’re delighted to re-enter the buy-to-let market with these new products. They offer flexibility, competitive rates and a number of benefits, underpinned by our adaptable, nuanced approach to underwriting.”

Newcastle said a two-year fixed rate deal was available at 2.46% (5.50%APRC) – an early repayment charge of 2% applied until 31 December 2021 and 1% until 31 December 2022.

Alternatively, for borrowers wanting to fix for longer, a five-year fixed rate was also available at 2.70% (4.7%APRC) with an early repayment charge of 5% until 31 December 2021, 4% until 31 December 2022, 3% until 31 December 2023, 2% until 31 December 2024 and 1% until 31 December 2025.

The Interest Coverage Ratio was 145% at a rate of 4% for product terms of five years or more and there is no maximum age for borrowers.