Newcastle for Intermediaries has reduced rates across its 95% LTV mortgage range by up to 0.15% and introduced an enhanced package of features, designed to support first-time buyers and other borrowers moving onto the housing ladder.
The refreshed range includes two and five-year fixed rate products at 95% LTV with no product fees, a free standard valuation and £200 cashback on selected products, to help customers with upfront moving costs.
In response to broker feedback, Newcastle for Intermediaries has also shortened the time from completion to payment of the cashback from 14 days to 5 days, allowing customers faster access to funds to set up their new home.
The latest changes follow the lender removing its maximum age limit on repayment mortgages, which came into effect last week.
Michelle Ash, national account manager at Newcastle Building Society, said: “These changes reflect the evolving market conditions and our commitment to supporting first-time buyers and those needing a higher LTV product.
"We’ve priced the range to be competitive for intermediaries working with clients who need 95% LTV, and the faster cashback payment is a practical change that will make a real difference at completion.”
