Borrowers with Newcastle for Intermediaries can save up to £300 with the lender’s new flexible product transfer proposition.
The early product transfers enable borrowers to secure new deals up to three months before their current mortgage reaches maturity and without incurring any early repayment charges (ERCs).
The flexible option is designed to support customers with mortgage maturities in the second half of 2025, most of whom on two-year fixed rate deals are expected to benefit from a rate reduction when they move onto a new deal.
Borrowers can switch to a new product from the 1st of the following month after applying – allowing them to lock in a better deal early and start saving straight away.
Newcastle for Intermediaries has found that a typical customer on a two-year fix could save nearly £300 over three months by transferring to one of Newcastle’s most competitive current two-year deals up to three-months in advance.
In addition, borrowers can make unlimited ERC-free lump sum overpayments when arranging a product transfer, enabling them to reduce their loan balance and monthly repayments even further before their new mortgage product starts.
Franco Di Pietro, head of intermediary mortgages at Newcastle Building Society, commented: “We know many borrowers are feeling the pressure of rising living costs and historically higher rates. By giving brokers the tools to switch clients early and flexibly, we’re making it easier for them to deliver immediate savings and long-term value. It’s an opportunity to offer meaningful value to clients navigating a volatile rate environment, while also earning their procuration fee sooner.”
