Newcastle Intermediaries reintroduce large loan product range

Newcastle Intermediaries has re-entered the large loan product market with a range of two and five-year fixed rate products.

The two-year product is available at 6.45% [5.3% APRC] for up to 65% LTV and on loans between £1.5m and £2m. The product comes with early repayment charges of 2% until 31.01.2024 and 1% until 31.01.2025.

The range allows enhanced income multiples of up to 5.5x, providing borrowers with more choice and flexibility. The large loans proposition comes with a dedicated service offering direct access to Newcastle Intermediaries’ underwriting team, allows up to 10% overpayments and acceptance of up to 100% bonus/commission, subject to underwriter discretion.

Franco Di Pietro

Franco Di Pietro, head of intermediary mortgages at Newcastle Building Society, said:

“We have updated our large loan product portfolio in line with the current rate environment and are pleased to be able to reintroduce the range to market reflecting our continued commitment to supporting our intermediary partners and their clients.”

All lending criteria and the full range of available products can be found here. 

Kindly shared by Newcastle Building Society

Main article picture courtesy of Pixabay