Newcastle Intermediaries has reduced the rates of its mortgages with a maximum loan to value (LTV) of 95%.

The deals are all fixed for two years and includes a rate of 3.39% (5.7% APR) with a fee of £999.

Also available is a two year fixed rate deal of 3.99% (5.8% APR) which comes with no reservation or completion fees, a free standard valuation, plus £200 cash back. Alternatively, borrowers remortgaging can benefit from a free legal fee rather than the cashback.

Ben Smith, head of product development at Newcastle Intermediaries, said: “We’re committed to supporting new buyers on to the property ladder and I’m pleased we can offer a reduction in our rates to help them do that.

“This range of products is ideal for first time buyers looking to keep the costs of purchasing their first home down.”