Newcastle expands buy-to-let range with new five-year products

Newcastle Intermediaries has introduced a range of five-year 80% LTV products to its buy-to-let proposition.

Following recent rate reductions across its buy-to-let offering, Newcastle Intermediaries has now launched a range of five-year fixed rates to provide landlords with a greater number of borrowing options.

Included as part of the updated product range is a five-year fix at 5.50% up to 80% LTV, with a 1.50% product fee and up to 10% overpayments allowed.

Also available is a five-year fix at 5.15% up to 80% LTV with a 3% product fee and up to 10% overpayments.

Both products are available for purchase and remortgage and come with early repayment charges of 5% in the first year, reducing to 1% in year five.

Franco Di Pietro, head of intermediary mortgages at Newcastle Building Society, said: “We’re always looking for ways in which we can enhance our proposition to support our broker partners.

"In response to their recent feedback on our offering for their landlord clients, in addition to our recent buy-to-let rate reductions, we’re pleased to now offer this additional range of five-year buy-to-let products, providing a greater range of options, coupled with our flexible lending criteria.”