Newcastle Intermediaries has expanded its large loan proposition with the introduction of new two-year fixed rate products and a rate reduction across the range.

The lender has also removed upfront reservation fees and reduced completion fees.

A new two-year fixed rate at 2.45% is available at a maximum LTV of 65% for loans of between £1.5m and £2m.

An alternative two-year fixed rate is available at 2.55% up to 80% LTV for loans of between £500k and £1m or up to 75% LTV for loans between £1.5m and £2m.

A product fee of £1,499 is payable on all products in the range and 10% overpayments per annum are permitted to support borrowers who require the flexibility to make lump sum overpayments.

An early repayment charge of 2% applies until 28/02/23 and 1% until 29/02/24.

Franco Di Pietro, head of intermediary mortgages, said: “Since re-entering the large loan market we’re constantly assessing our range based on broker feedback and making changes to ensure products offer borrowers a real choice.

“I’m confident our tailored lending approach including direct access to our underwriters and these updates to our range will meet the unique needs of higher earning clients.”