Newcastle for Intermediaries has made a series of rate cuts to its large loan mortgage range, lowering pricing on selected two and five-year fixed deals by as much as 26 basis points (bps).
The changes are designed to strengthen the lender’s offering to brokers serving high-net-worth clients, particularly those with complex income structures or substantial borrowing requirements.
The large loan range provides bespoke solutions for mortgages exceeding £1.5 million, with flexible criteria that include enhanced income multiples and notable allowances on variable earnings.
Among the revised products is a two-year fixed rate at 4.90% (6.5% APRC) available on loans between £1.5 million and £3 million, up to 65% loan-to-value. The deal includes early repayment charges of 2% until the end of August 2026 and 1% until the end of August 2027. A product fee of £1,999 applies.
Designed to accommodate clients with significant earning potential, the lender’s criteria permit up to 100% of bonus or commission income to be considered, subject to underwriter discretion. Income multiples of up to 5.5 times are available, supporting affordability for high-income applicants.
Newcastle’s large loan proposition also offers a bespoke service that includes direct access to underwriters and the option for borrowers to make overpayments of up to 10%.
Franco Di Pietro (pictured), head of intermediary mortgages at Newcastle Building Society, said: “We’re always looking for ways to make our large loan product range more attractive to brokers and their clients, and following a review of our rates we’re pleased to make these reductions to our proposition which reflect the current rate environment.”
