NEWCASTLE INTERMEDIARIES REFRESHES FIXED RATE MORTGAGE RANGE
NEWCASTLE INTERMEDIARIES has reduced rates on a number of its mortgage products.
The lender has reduced a number of products across its range and has introduced free legal fees on many deals, ideal for borrowers re-mortgaging and looking to keep costs low.
Those looking for a short term fix may be interested in the 2 year fixed rate product at 2.15% (5.3% APR), which comes with no reservation or completion fees, a free standard valuation, free legal fees (for re-mortgages) or £200 cashback (for house purchases) and up to a maximum loan to value (LTV) of 80%.
Rates have also been reduced on ten year fixed rate deals, positive news for borrowers looking for a long term fix amidst speculation of a base rate increase. A rate of 3.35% (4.2%APR) is available up to 80% LTV. This product also comes with no reservation or completion fees, a free standard valuation, free legal fees (for re-mortgages) or £200 cashback (for house purchases).
The full mortgage range is available at www.newcastle.is.co.uk
Ben Smith, Head of Product Development at Newcastle Intermediaries stated: “We have reassessed all of our rates in a bid to offer borrowers choice and flexibility.
“Whilst rates across the market are rising ahead of a potential base rate rise in November, I’m pleased we can offer borrowers a competitive range of fixed rate products.
“Additionally, our free legal fee feature is ideal for the growing re-mortgage market.”
The lender has also stated that changes recently announced by The Prudential Regulation Authority around Buy to Let portfolios will not affect their existing policy.
The maximum number of mortgaged Buy to Let properties accepted by Newcastle Intermediaries is 3, which is not considered as portfolio landlord lending. Every Buy to Let application will continue to be manually assessed by its experienced team of specialist underwriters to ensure continued responsible lending.
To view Newcastle Intermediaries’ full mortgage range, please visit www.newcastleis.co.uk.