Launch of Fixed Rate Large Loan products
We are always looking to improve our mortgage proposition and create competitive products to help every generation own their own home. In response to your feedback, we have enhanced our Large Loan product range to further support your higher earning professional clients..
We have added 2 and 5 year fixed rate products, available up to 80% LTV, alongside reducing rates across selected discounted products. In addition, we have reduced completion fees and removed upfront reservation fees across the range.
New Fixed Rate Large Loans products
2 Year
- 2.45% Fixed Rate until 29.02.2024 (3.7% APRC), available up to 65% LTV and comes with a £1,499 completion fee
- 2.55% Fixed Rate until 29.02.2024 (3.8% APRC) available up to 80% LTV and comes with a £1,499 completion fee
- Both products have an early repayment charge of 2% until 28.02.2023 and 1% until 29.02.2024
5 Year
- 2.90% Fixed Rate until 28.02.2027 (3.6% APRC) available up to 80% LTV and comes with a £1,499 completion fee
- Early repayment charge of 5% until 28.02.2023, 4% until 29.02.2024, 3% until 28.02.2025, 2% until 28.02.2026 and 1% until 28.02.2027
Additional Large Loan propositional highlights:
- Dedicated service with direct underwriter access
- Loans from £500k - £1m at 80% LTV, or £1m - £1.5m at 75% LTV, with enhanced income multiples up to 5.5x
- Loans from £1.5m - £2m at 65% LTV, with enhanced income multiples up to 5.25x
- Acceptance of up to 100% bonus/commission (subject to underwriter discretion)
- Interest Only loans available up to 75% LTV or 80% LTV on a part Capital Repayment basis
The full range of products can be found on our website.
Talk to your dedicated Business Development Manager or contact your Intermediary Support Team at Intermediary.lending@newcastle.co.uk or 0345 602 2338.