The Society has also shortened the time from completion to payment of the cashback from 14 days to 5 days.

Previously, borrowers were required to repay their mortgage by the age of 80. 

The lender has increased LTVs and will now accept multiple repayment strategies.

The Society will offer up to 6 times loan to income for individuals or joint applicants who earn over £75,000 a year looking to borrow up to 90% LTV. 

A typical customer on a two-year fix could save nearly £300 over three months.

The Society has expanded its frontline support to include both field-based and dedicated telephone BDMs in every postcode area. 

Rates have reduced by up to 0.30%.

Newcastle for Intermediaries has today reduced rates across its Shared Ownership proposition.

The Society recently increased the maximum LTV for new build houses to 95%.

The Society says the reduction reflects a change in market conditions and lending costs.