Newcastle Intermediaries reduces BTL rates

Newcastle Intermediaries has cut rates on its range of five-year fixed buy-to-let mortgage products by up to 0.2%.

Reductions include a 75% loan-to-value (LTV) five-year fix reduced from 2.69% to 2.49%, subject to £999 fees. 

In addition, the lender is also offering a 75% LTV five-year fixed rate product at 2.7%, down from 2.86%. This product includes free standard valutions, £500 cashback and tiered ERCs from 5% to 1%. 

Both products are available at a maximum LTV of 75% and come with 10% overpayments per annum.

The products also include an early repayment charge of 5% until 30 April 2021, 4% until 30 April 2022, 3% until 30 April 2023, 2% until 30 April 2024 and 1% until 30 April 2025.

John Truswell, head of intermediary mortgages at Newcastle Intermediaries, said: “Our buy-to-let range remains competitive and we’re pleased to announce a reduction in our 5-year rates alongside refreshing end dates for customers looking to either purchase or remortgage.

“We calculate the minimum expected rental income on buy-to-let properties using our Interest coverage ratio of 145% at a rate of 4% for product terms of five years or more.

“Also, there is no maximum age for borrowers on our buy-to-let products giving us a strong buy-to-let proposition.”

Want to comment on this story? Our focus is on providing a platform for you to share your insights and views and we welcome contributions.
If any post is considered to victimise, harass, degrade or intimidate an individual or group of individuals, then the post may be deleted and the individual immediately banned from posting in future.
Please help us by reporting comments you consider to be unduly offensive so we can review and take action if necessary. Thank you.