The interest rates for large loan transactions in Newcastle agencies can be reduced by up to 26 basis points, while the Principality lowers some rates and increases others.
The two-year fixed interest rate for loans to value is now 4.9% after the price cut in Newcastle, with loans between £1.5 million and £3 million loan fees for £1,999.
This range allows up to 100% bonus or commission, but to obtain underwriter discretion, the loan can earn up to 5.5 times.
“We have been looking for ways to make our large loan product range more attractive to brokers and their clients, and after reviewing our interest rates, we are happy to reduce these to our claims to reflect the current interest rate environment.”
Meanwhile, the Principality lowered interest rates for various transactions by 22 basis points, while also raising shared ownership and newly-created high LTV transactions by 66 basis points.
The biggest reduction is a five-year fixed within its residential scope, with LTV with a 65% interest rate dropping by 22 basis points, while LTV’s interest rate is up to 75%.
Many other two- and five-year rates, including cash back transactions, sole proprietorships for joint borrowers and holidays, LET also dropped less.
But 95% of LTV rates are rising, including a 15 basis points new five-year restoration, sharing 42 kiss shared ownership for two years fixed and shared ownership for 66 kiss
