Newcastle cuts large loan rates by up to 0.45%

A two-year discounted rate is available at 1.90% up to 75% LTV for loans of between £1,000,001 and £1,500,000, which is a 0.45% reduction on the previous rate.

Alternatively, a two-year fixed rate at 2.39% is available at a maximum LTV of 65% for loans of between £1,500,001 and £2,000,000.

A fee of £1,499 is payable on all products in the range and 10% overpayments per annum are permitted to support borrowers who require the flexibility to make lump sum overpayments.

The lender’s large loan proposition also offers enhanced income multiples up to 5.5x, interest-only options and a dedicated service with direct access to underwriters.

Franco Di Pietro, head of intermediary mortgages, said: “We’re constantly striving to make our product range more attractive to brokers and their clients. We’ve enhanced our large loan range with significant rate reductions and believe our tailored lending approach and overall proposition offers higher earning borrowers a compelling option.”