Newcastle reduces buy-to-let mortgage rates and stress rates

Newcastle Intermediaries has further reduced rates across its buy-to-let proposition by up to 0.30% and has also reduced buy-to-let lending stress rates.

Included in its reduced rates is a two-year fixed rate at 5.10% up to 80% LTV that comes with a £999 product fee and early repayment charges of 2% in the first year and 1% in the second year.

Also available is a five-year fixed rate at 4.75% up to 80% LTV that comes with a £999 fee and stepped early repayment charges of 5% in year one, reducing to 1% in year five.

Both products are available for house purchase and remortgage, have no minimum income or maximum age criteria and offer up to 10% overpayments per annum.

In addition to these rate reductions, Newcastle Intermediaries has also reduced its stress rate for buy-to-let lending across its fixed rate products under five years from 8.25% to 7.75%, and across its longer term fixed rate products from 5.70% to 5.25%.

Franco Di Pietro, head of intermediary mortgages at Newcastle Building Society, said: “In support of brokers and their landlord clients we’re delighted to announce a comprehensive reduction to our buy-to-let range. These reduced rates are complemented by the enhancements offered by our flexible lending criteria, direct access to our team of underwriters and support for each broker via their dedicated regional business development manager.”