Newcastle cuts large loan mortgage rates

Newcastle for Intermediaries has announced rate reductions of up to 0.30% across its large loans mortgage proposition.

The revised large loans range offers enhanced flexibility for clients requiring mortgages of up to £3 million, with LTV ratios available up to 85%.

With rates starting from 4.45%, the range allows for consideration of up to 100% bonus/commission - subject to underwriter discretion - supports up to 10% overpayments and allows enhanced income multiples of up to 5.5x; providing borrowers with more choice and flexibility. 

The large loans proposition comes with a dedicated service offering direct access to Newcastle for Intermediaries’ underwriting team. 

Michelle Ash, national account manager at Newcastle Building Society, said: “As the large loans market grows, we want to ensure that we support our broker partners not only with competitive rates, but with an expert-led approach and service they can trust.

“We understand the very specific needs of clients with higher or complex incomes and high-value borrowing requirements, and are proud to be able to reduce rates across our large loans proposition in order to offer brokers and their clients more choice, flexibility and value.”