The changes are aimed at providing brokers with greater flexibility and more options for clients approaching the end of their mortgage term.
The lender has cut five-year product transfer rates by up to 0.35%, including a fixed rate of 4.15% available up to 60% loan-to-value (LTV) for existing customers. Alongside these reductions, new three-year product transfer rates have been introduced, starting at 4.05% up to 70% LTV. Borrowers can secure a new rate up to three months before their current mortgage matures.
Francesco Di Pietro, head of intermediary mortgages at Newcastle Building Society, said:
“By lowering five-year rates and introducing three-year product transfers, we’re increasing choice and flexibility for brokers, while keeping the application process simple and efficient through our online tools. We want to make it as easy as possible for brokers to retain their clients and deliver excellent outcomes at maturity.”
