Newcastle for Intermediaries has reduced rates across its product transfer range, with pricing now starting from 3.69%, as it looks to strengthen broker support for existing borrowers approaching the end of their current deals.
The changes, which took effect on Friday 9 January, include reductions of up to 0.14% across a range of fixed-rate terms and loan-to-value bands, up to 95% LTV.
The lender said the revised product transfer range is designed to give brokers greater flexibility when helping clients secure a new deal ahead of maturity. Customers are able to switch to a new product up to three months before their existing deal ends.
Francesco Di Pietro, head of intermediary mortgages at Newcastle Building Society, said: “We know how important it is for brokers to be able to offer existing customers competitive options as they approach maturity.
“Over 70% of our customers with a product maturing this year will see a reduction in rate, so by allowing brokers to switch their clients’ deals three months before maturity, borrowers can start saving straight away, it also means brokers don’t need to wait until maturity to receive their proc fee.
“These rate reductions reinforce our commitment to supporting intermediaries with a strong, easy-to-use product transfer proposition that helps deliver certainty and value for borrowers.”
