"Our recent expansion of our product transfer proposition to our intermediary partners acknowledges the important role they play for customers"
Newcastle Intermediaries has cut rates on its product transfer range exclusively for existing customers.
Newcastle will offer existing customers beneficial rates on 90% and 95% LTV products, all of which are now available on sourcing systems.
A fee-free two-year fixed rate has been reduced by 0.20% and is now available at 2.85% up to 95% LTV, while a five-year fixed rate is on offer at 3.29%.
Stuart Miller, customer director at Newcastle Intermediaries, said: “We’re committed to rewarding the loyalty of customers who choose to stay with us and transfer to another of our products - and these enhanced rates reflect that. Our recent expansion of our product transfer proposition to our intermediary partners acknowledges the important role they play for customers when reviewing their options at maturity.
“Product transfers were the fastest growing area in the mortgage market in 2018, and according to mortgage industry speakers at the Financial Services Expo this year product transfers are likely to dominate the mortgage market in 12 months’ time. We are in good shape to meet that demand from brokers and customers.”