Newcastle reduces buy-to-let stress rates and launches new two-year fixes

Newcastle Intermediaries has refreshed its buy-to-let proposition with reduced stress rates and a new range of two-year fixed rates.

The lender has reduced the stress rate for buy-to-let lending across its fixed rate products under five years from 7.75% to 7.50%, and across its fixed rate longer term products from 5.25% to 5.00%.

Included in its refreshed range is a two-year fixed rate at 5.20% up to 80% LTV with a £999 product fee and a fee-free equivalent at 5.40%.

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.

Franco Di Pietro, head of intermediary mortgages at Newcastle Building Society, said: “We’ve updated our range of two-year buy-to-let products, with competitive rates 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.

“At the same time, and as we look to support brokers and their clients as much as we can, we’re also pleased to be able to reduce stress rates on shorter and longer-term fixed rate products across our buy-to-let range, which will provide a greater degree of flexibility.”