Newcastle Intermediaries launches 85% LTV mortgages

Newcastle Intermediaries has launched a range of 85% loan-to-value (LTV) mortgages with rates as low as 2.85%, including no product fees on selected products.

A two-year fix at 2.85% – 5.3% annual percentage rate of charge (APRC) – is available at a max LTV of 85% and has a product fee of £999.

Meanwhile, a 2% early repayment charge until 31 January 2022 and 1% until 31 January 2023 applies.

Available to first-time buyers, home movers and remortgage customers, the newly launched range offers a free standard valuation on properties up to £500,000 and allows 10% overpayments per annum.

Alternatively, a fee-assisted two-year fix is available at 2.99% (5.2% APRC) at a max LTV of 85% and comes with no reservation or completion fees to pay, meaning borrowers will only have to pay associated legal costs.

John Truswell, head of intermediary mortgages at Newcastle Building Society, comments: “We’re pleased to be extending our current offering to 85% LTV and increasing our support across the market for first time buyers, home movers and existing homeowners looking to re-mortgage.”

“We pride ourselves on our customer service and brokers can be assured their clients will receive the highest levels of service for mortgage applications and processing.”