The newly revised rates apply to mortgages with a loan to value (LTV) of 85% or more, and include fixed rate deals of between two and five years, all with free valuation and a range of incentives.
For example, the 2 year fixed rate mortgage at 3.75% (5.7% APR) is available at a maximum LTV of 95% with a free standard valuation and £250 cash back.
As well as reduced rates, the Newcastle has introduced a new five year fixed rate deal at 4.39% (5.4% APR) as part of its unique All in One offering, also available at a maximum LTV of 95%.
The All in One products include all standard legal costs including Land Registry fees, Land Registry Priority Search, Bankruptcy Searches, Property Searches (such as Local Authority, Water and Drainage Fees) and VAT.
In addition to no legal fees, the All In One mortgage has no valuation fees and product fees, all of which add to the costs of buying a home.
Steve Carruthers, Head of Mortgage Distribution, at Newcastle Intermediaries, said: “Our All in One product range is ideal for first time buyers looking to keep the costs of purchasing their first home down, and the rate reductions will also be a benefit in keeping monthly repayments down too. These changes show our commitment to supporting new buyers on to the property ladder.”
