A new range of mortgage deals to cater for home movers, first-time buyers and remortgage customers has been launched by Newcastle Intermediary Services.
For instance, its new fees-free product is available on a two year term at a fixed rate of 5.99 per cent (6.2 per cent APR) and up to a max LTV of 95 per cent. This is ideal for those trying to get on the ladder for the first time, have a small deposit and need to minimise purchase costs.
What’s more, a fee free product is also available at a LTV of up to 80 per cent and is also fixed for two years at 3.52 per cent (5.6 per cent APR).
Meanwhile, for customers with a larger deposit – they can take advantage of the low Bank of England Base Rate (BBR) with the Society’s Base Rater Tracker product currently at 2.75 per cent (5.7 per cent APR) above BBR. This is available at a LTV of up to 80 per cent and importantly comes with no early repayment charge, allowing customers future flexibility if rates change.
Alternatively, for those who want the peace of mind that comes with a fixed rate deal but have a larger deposit, then the two year fixed product may suit them. It’s available at a rate of competitive rate of 2.99 per cent (5.7 per cent APR) and a max LTV of 80 per cent.
The deals are available on a semi exclusive basis to L&G, First Complete, Pink, Openwork, Intrinsic, and Brilliant Solutions.
Steven Marks, Corporate Development Executive, said; “It’s important to cater for a cross-section of borrowers in order to ensure there is movement in the UK housing marketplace.
“Some FTBs need products that are competitive but available with small deposits. Then there is a large section of the market that is already on the housing ladder and have sizable deposits so are able to be more flexible with a variable deal.”
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