Newcastle for Intermediaries lowers rates across large loan products

Published on

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.”

COMMENT ON MORTGAGE SOUP

We want to hear from you!
Leave a comment and get the conversation started.
You need to register to post, so please login or sign up below.

Latest articles

Skipton brings brokers and developers together to drive sustainable housing agenda

Skipton Building Society has brought together brokers, developers, and sustainability specialists at its head...

Foundation Home Loans expands residential range and cuts rates

Foundation Home Loans has announced a series of rate reductions and product enhancements across...

ColCap and Molo complete £300m buy-to-let securitisation

ColCap Financial and digital mortgage lender Molo have completed their second securitisation under the...

West Brom cuts mortgage rates to aid first-time buyers and remortgagers

West Brom Building Society has reduced rates across its core two-year and three-year mortgage...

Paragon promotes quartet as dev finance division expands reach

Paragon Bank has announced several promotions within its development finance division as it looks...

Latest publication

Other news

Skipton brings brokers and developers together to drive sustainable housing agenda

Skipton Building Society has brought together brokers, developers, and sustainability specialists at its head...

Foundation Home Loans expands residential range and cuts rates

Foundation Home Loans has announced a series of rate reductions and product enhancements across...

ColCap and Molo complete £300m buy-to-let securitisation

ColCap Financial and digital mortgage lender Molo have completed their second securitisation under the...