Newcastle for Intermediaries has announced rate reductions of up to 0.30% across its large loan mortgage range.

The revised offering, which takes effect immediately, caters to clients seeking borrowing of up to £3 million, with loan-to-value ratios available up to 85%.

Rates on the refreshed range now start from 4.45%.

The lender has positioned the product to appeal to borrowers with more complex income structures, including those reliant on commission or bonuses.

Subject to underwriter discretion, Newcastle will consider up to 100% of variable income and apply enhanced income multiples of up to 5.5x.

The range also allows borrowers to make overpayments of up to 10% annually.

Newcastle for Intermediaries has underscored its commitment to supporting brokers operating in the large loans market with a dedicated underwriting team offering direct access and case-by-case service.

Michelle Ash (pictured), national account manager at Newcastle Building Society, said: “As the large loans market grows, we want to ensure that we support our broker partners not only with competitive rates, but with an expert-led approach and service they can trust.

“We understand the very specific needs of clients with higher or complex incomes and high-value borrowing requirements, and are proud to be able to reduce rates across our large loans proposition in order to offer brokers and their clients more choice, flexibility and value.”