Newcastle Intermediaries has launched a range of buy-to-let products offering a choice of fee-assisted deals at 75% loan-to-value (LTV).
The fee-assisted products offer a free standard valuation (on properties up to £500k), £500 cashback and 10% overpayments per annum.
A 2-year fixed rate is available at 2.46% (5.50%APRC); an early repayment charge of 2% until 31 December 2021 and 1% until 31 December 2022 applies.
Ipswich Building Society withdraws buy-to-let offering
Alternatively for borrowers wanting to fix for longer, a 5-year fixed rate is available at 2.70% (4.7%APRC) 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.
The Interest Coverage Ratio is 145% at a rate of 4% for product terms of five years or more and there is no maximum age for borrowers.
John Truswell, head of intermediary mortgages at Newcastle Building Society, said: “We’re delighted to re-enter the Buy to Let market with these new products.
“They offer flexibility, competitive rates and a number of benefits, underpinned by our adaptable, nuanced approach to underwriting.”