Newcastle Intermediaries has reduced the rates on its two and five-year 85% LTV mortgage range.

Rates now start from 2.75% and no product fees on selected products.

Cuts of up to 0.29 percentage points have been made across the 85% LTV range.

A two-year fixed rate at 2.75% (3.9% APRC) is a 0.20 percentage point reduction on its previous rate. It comes a product fee of £999 and has an early repayment charge of 2% until 30/06/22 and 1% until 30/06/23.

For borrowers not wanting to pay a product fee, an alternative two-year fixed rate is available at 2.85% (3.8% APRC), representing a 0.29 percentage point reduction on its previous rate. The product has an early repayment charge of 2% until 30/06/22 and 1% until 30/06/23.

All of the lender’s 85% LTV mortgages come with a free standard valuation and permit 10% overpayments per annum.

John Truswell (pictured), head of intermediary mortgages at Newcastle Building Society, said: “With continued strong demand in the market for higher LTV products, we’re pleased to introduce the competitive rates on both our two and five-year fixed rates which are now available to help a variety of borrowers especially first time buyers, home movers and existing home owners wishing to remortgage to a lower rate.”