Newcastle Intermediaries has launched a new range of three-year fixed rates as part of an update to its portfolio of residential mortgages.

Included in the offering is a 95% LTV, three-year fixed rate at 3.8% (4.0% APRC) that comes with early repayment charges of 3% until 31/10/23, 2% until 31/10/24 and 1% until 31/10/25.

The product is available on house purchases and remortgages up to £500,000, comes with zero product fees, and offers £500 cashback and the flexibility of 10% overpayments per annum.

Franco Di Pietro, head of intermediary mortgages at Newcastle Building Society, said: “As average UK house prices reach an all-time high this year, more borrowers are looking to purchase properties with smaller deposits.

“The introduction of a new range of higher LTV three-year fixed rates underlines our commitment to providing brokers with attractive solutions that meet the needs of their clients.

‘Whether borrowers are looking to purchase or remortgage, our higher LTV range continues to provide choice to lower deposit borrowers.”