Newcastle Intermediaries has reduced rates on its fee assisted buy-to-let mortgages by 0.2 percentage points and extended end dates across the range.
Both deals, available on two and five-year terms, come with no fees to pay, free standard valuation, £500 cashback and 10% overpayments per annum.
The two-year fixed rate mortgage product is now available at 2.45% (5.5% APRC) and comes an early repayment charge of 2% until 31 July 2021 and 1% until 31 July 2022.
Meanwhile, the five-year deal is now available at a fixed rate of 2.5% (4.7% APRC), and includes an early repayment charge of 5% until 31 July 2021, 4% until 31 July 2022, 3% until 31 July 2023, 2% until 31 July 2024 and 1% until 31 July 2025.
John Truswell, head of intermediary mortgages at Newcastle Building Society, commented: “This reduction of rates on our fee assisted buy-to-let range, means landlords and other potential investors can take advantage of more competitive rates without having to worry about finding extra cash for fees, and can make the most of £500 cashback.
“The society’s interest coverage ratio is 145% at a rate of 4% for product terms of five years or more and there is also no maximum age for borrowers on our buy-to-let products giving us a strong buy-to-let proposition.”
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