Newcastle Intermediaries has lowered rates on its buy-to-let range by up to 0.15 percentage points, including two with zero product fees.

The lender’s five-year fixed rate at 2.45% (3.4% APRC) is a discount of 0.15 percentage points on the previous rate. It is available at a maximum LTV of 75% and an early repayment charge of 5% applies until 28/02/23, 4% until 28/02/24, 3% until 28/02/25, 2% until 2/.02/26 and 1% until 28/02/27.

Alternatively, borrowers can fix for a shorter period of time with a two-year fixed rate at 2.39% (3.7% APRC). It is also available at a maximum LTV of 75% and an early repayment charge of 2% until 28/02/23 and 1% until 28/02/24 applies.

Both of these products come with free standard valuation on properties of up to £500,000 and a £500 cashback to assist with costs. Overpayments of 10% per year are allowed in addition to the £499 regular monthly overpayments already permitted.

The Interest Coverage Ratio is 145% at a rate of 4% for product terms of five years or more, and the two year ratio is 145% at a rate of 5.5%, there is no maximum age criteria and every case is individually underwritten.

Franco Di Pietro, head of intermediary mortgages at Newcastle Building Society, said: “We’re delighted to reduce rates on our buy-to-let products which include these competitive fee-assisted options for borrowers. They offer flexibility, competitive rates and a number of benefits, underpinned by our adaptable, nuanced approach to underwriting.”