Newcastle launches new tracker mortgage range
Products are available up to 70% LTV and start at 0.20% above base rate.
"Amid a changing base rate environment, these products look to provide an option for those customers looking for flexibility."
Newcastle Intermediaries has introduced two new base rate tracker products, available for purchase and remortgage.
Available up to 70% LTV, a product tracking at 0.20% above base rate (current pay rate 4.20%) comes with a £999 product fee.
Alternatively, a 70% LTV product tracking at 0.50% above base rate (4.50%) comes with no product fees, free base legal fees for remortgage or £250 cashback, and a free standard valuation on properties up to £500,000.
Both products in the range offer up to 10% overpayments per annum, are available for loans up to £1.5million, and come with a 1% early repayment charge until 31.08.2025.
Franco Di Pietro, head of intermediary mortgages at Newcastle Building Society, said: “We’re committed to giving brokers as many options as possible to support their clients and, amid a changing base rate environment, these products look to provide an option for those customers looking for flexibility.
"In introducing this range we’ve also taken into account feedback from brokers to ensure fee assisted options are available for those borrowers who may want support with costs.”
