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TODAY'S OTHER NEWS

Newcastle launches two buy-to-let fixes

Newcastle Intermediaries (NI) has updated its buy-to-let mortgage range by unveiling two new fixed rates.

The two-year fixed rate product charges 2.59% (APR 5.60%) a £1,999 completion fee.

Its five-year fix charges 3.49% (APR 5.20%) with a completion fee costing 2.50% of the loan amount.

Both deals will revert to a standard variable rate of 5.99%. They are available at a maximum loan-to-value of 75% with no reservation fee and a free standard valuation.

The products will be provided through The Business Mortgage Company (TBMC) who NI teamed up with in 2015 to enter the buy-to-let market.  

TBMC will liaise directly with brokers and submit fully packaged cases to Newcastle Intermediaries on its behalf

Steve Carruthers, head of mortgage distribution, at Newcastle Intermediaries, said: “Despite impending changes in the buy-to-let market we continue to see competition in the marketplace increase and in turn this has given landlords greater opportunities to shop competitively for the best interest rates.” 

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