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Newcastle Intermediaries reduces BTL rates

Newcastle Intermediaries has reduced rates on its buy-to-let range by up to 0.16% across a selection of two and five-year products.

The 2-year fixed rate product is available at 2.16% and comes with £999 fees and an ERC of 2% until February 2021 and 1% until 2022.

A 5-year product is available at a fixed rate of 2.86% and includes a ERC of 5% until February 2021 which decreases year on-on-year until 2025.

The offering comes with no product fees, free standard valuation and £500 cashback.

John Truswell (pictured), head of intermediary mortgages at Newcastle Building Society, said: “This reduction of rates, means landlords and other potential investors can take advantage of more competitive rates.

“The societies ICR is 145% at a rate of 4% for product terms of five years or more and there is also no maximum age for borrowers on our buy-to-let products giving us a strong buy-to-let proposition.”

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