"We’re delighted to reduce rates on our buy-to-let products which include these competitive fee-assisted options for borrowers."
A five-year fixed rate has been cut by 15bps to 2.45% at 75% LTV. A two-year fixed rate has also been lowered to 2.39% at 75% LTV.
Both products come with free standard valuation on properties of up to £500,000 and £500 cashback. Overpayments of 10% per year are allowed in addition to the £499 regular monthly overpayments already permitted.
The ICR 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.”
