Newcastle Intermediaries has reduced rates across a number of its 80% loan-to-value (LTV) products in its residential mortgage range, including two fee-assisted products.
The lender has cut rates from 2.65% to 2.25% (5.1% APRC) on a 2-year fixed rate at 80% LTV with an early repayment charge of 2% until 31 December 2021 and 1% until 31 December 2022.
Alternatively, a 5-year fix rate at 80% LTV has been cut from 2.75% to 2.55% (APRC 4.7%) with an early repayment charge of 5% until 31 December 2021, 4% until 31 December 2022, 3% until 31 December 2023, 2% until 31 December 2024 and 1% until 31 December 2025.
NatWest cuts rates
Both also offer free standard valuation, £500 cashback and 10% overpayments per annum.
John Truswell (pictured), head of intermediary mortgages at Newcastle Building Society, said: “We’re continually looking at ways to provide great value and service to our customers so we’re delighted to reduce rates on a number of our 80% LTV mortgages.
“These re-mortgage and purchase products are competitively priced and offer borrowers greater flexibility and support with home buying and home moving costs.”