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Newcastle announce rate cuts on residential products

Newcastle Intermediaries has reduced rates on a number of its residential mortgages by up to 0.20%.

Newcastle Intermediaries has reduced rates on a number of its residential mortgages by up to 0.20%.
 


According to the lender, it is also launching a 2.44% three year fixed rate at a max LTV of 80% which will be available both to key accounts and directly.


The new rate, at 2.44% (5.1% APR) has been cut by 0.11% and has no product fees, offers a free standard valuation, £500 cashback and 10% overpayments per annum, with an early repayment charge of 3% until 31/08/2019, 2% until 31/08/2020 and 1% until 31/08/2021.


For borrowers who are looking to re-mortgage, there is the option of either £500 cashback or free legal fees.


Steve Carruthers, head of mortgage distribution at Newcastle Intermediaries, said: “We’re always looking to improve our mortgage products and this latest three year fixed product is available at a competitive rate for borrowers. For re-mortgage customers, we’ve built options and flexibility into the product so that buyers can choose the benefits that mean the most to them – whether that’s standard legal fees paid or £500 cashback, to help when buying their home.


We’re hoping that we can extend this competitive rate across a range of three-year products over a variety of our LTV products.”

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