Refreshed short term fixed mortgage range

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Newcastle Intermediaries has now refreshed its range of two and five year fixed rate mortgage products available for remortgages up to 80% loan to value (LTV).

Borrowers in need of a short-term fixed rate can now benefit from a two-year product with a rate of 1.87% up to 60% LTV, or 1.96% for those with a smaller deposit at a maximum LTV of 80%. These both come with no reservation or completion fee, plus free legal and standard valuation fees.

The lender is continuing to offer beneficial rates for those looking to fix for a longer term, yet now with the option to choose between two new five year fixed products. This includes a rate of 2.05% up to 60% LTV, or 2.4% with a maximum LTV of 80%.

Elsewhere in the market, The West Brom Building Society has been applying changes to a number of two year fixed rate products. Products in the range are available up to 80% LTV and will no longer come with booking fees, with selected rates now being lowered to 1.74% up to 65% LTV, or 1.99% up to 80% LTV.

In addition to this, the lender’s ten year fixed range has also witnessed reductions, as well as removing the booking and completion fees on any one of these products.

Ten year fixed rates have now been reduced from 2.79% to 2.59% for new purchases, home movers and remortgage customers, with a maximum loan to value of 65%. An extremely competitive rate of 2.89% is also available up to 80% LTV.

All products include free valuation and assisted legal fees for remortgage customers and are portable, incurring no early repayment charges when transferring to a new property.

This is an excellent offering from the lender and another example of the extra length lenders are going to, helping to reduce the total cost of borrowing and additional fees, as well as focusing on incentives.