Newcastle Intermediaries has announced a significant cut in their mortgage rates, offering relief to homeowners and potential buyers. With reductions up to 0.65%, this shift signifies a welcome change for those struggling with housing costs or looking to enter the property market.

Who Will Benefit?

The rate cuts span various loan-to-value (LTV) ratios, making these new rates particularly attractive for a broad spectrum of borrowers. Whether you’re a first-time buyer or looking to remortgage, there’s something in this for everyone.

For the High LTV Borrowers

• Up to 95% LTV: Products in this bracket have seen a notable decrease. Now, the rates start at 4.65% for a five-year fixed rate up to 80% LTV. Additionally, for a two-year fixed rate, the new starting point is 5.05%.
• At 90% LTV: Borrowers looking at this level will find two-year fixed rates beginning from 5.15% and five-year rates from 4.75%.
• Reaching 95% LTV: Here, rates have been cut down to 5.40% for two years and 5.10% for five years.

Additional Support for Clients

Beyond just the rate cuts, Newcastle Intermediaries is also offering fee-assisted options. This is a significant boon for clients who need help covering the costs associated with getting a mortgage. It’s a clear indication that Newcastle is not just about offering competitive rates but also about providing comprehensive support to its clients.

The Driving Force

Franco Di Pietro, the head of intermediary mortgages at Newcastle Building Society, highlighted the dynamic nature of the current market. He pointed out that both brokers and their clients are constantly on the lookout for competitive options. This rate reduction is a response to that demand, aiming to offer more attractive and affordable choices to a wide range of borrowers.