Newcastle for Intermediaries has made positive changes to its large loan criteria and launched a new range of products.

Its proposition now includes products up to 85% LTV and increased loan amounts on its range below 80% LTV. It has also raised the amount allowed for part and part mortgages up to 85%.

The maximum LTV on interest-only is 75%.

Further changes to the lender’s large loans criteria include the new accepted use of a combination of repayment vehicles, including downsizing via sale of mortgaged property. Downsizing remains capped at 60% and has minimum equity requirements, additional repayment vehicles can be used up to a maximum LTV of 75%.

Included as part of the refreshed range is a two-year fixed rate at 5.70% (6.90% APRC) for up to 85% LTV, available on loans from £500k – £1million, which comes with early repayment charges of 2% until 30.09.2025 and 1% until 30.09.2026.

Also available is a five-year fixed rate at 5.20% (6.40% APRC) for up to 85% LTV, for loans from £500k – £1million, which comes with early repayment charges of 5% until 30.09.2025, 4% until 30.09.2026, 3% until 30.09.2027, 2% until 30.09.2028 and 1% until 30.09.2029. Both products attract a £1,999 product fee, offer enhanced income multiples of up to 5.5x and allow up to 10% overpayments per annum.

Franco Di Pietro (pictured), head of intermediary mortgages at Newcastle Building Society, said: “We’re always listening to our broker partners which is why we’ve taken the decision to expand our large loan proposition to include 85% LTV products and increase loan amounts across all LTVs.

“The updates to our large loans proposition not only reflect our commitment to supporting our intermediary partners, but enable us to continue to deliver a great range of options for brokers and their higher earning clients.”