Newcastle Intermediaries has cut rates on a trio of products in its 85% LTV range by up to 0.20 percentage points.

The reduction includes a 0.20 percentage point cut on a two-year fixed rate, now available at 2.30% (3.8% APRC) which comes with product fees of £499.

A fee-free two-year fix is now available at 2.55% (3.8% APRC), representing a 0.10 percentage point reduction on its previous rate. An early repayment charge of 2% applies until 31/12/22 and 1% until 31/12/23 on both fixed-rate products.

Alternatively, a fee-free two-year discounted rate has been reduced by 0.05 percentage points to 2.30% (3.8% APRC) which has an early repayment charge of 1% until 31/12/23.

All refreshed products come with a free standard valuation on properties up to £500,000 and allow 10% overpayments per year in addition to the £499 regular monthly overpayments permitted.

John Truswell, head of intermediary mortgages at the Newcastle Building Society, said: “We’re always listening to broker feedback and know it’s important to keep the range fresh in a very competitive market. Customers will benefit from the reductions on offer as well as our manual underwriting approach and leading service levels.”