Here is the latest update from Newcastle for Intermediaries. For full details see their latest product information here. Access these product via our direct to lender mortgage club and get the benefits of payment on completion.
Announcement
Important Information – Withdrawal of Self Build products
Please be advised that we will be withdrawing our Self Build range from availability today.
No further ESIS documents will be permitted from close of play today and no further applications from close of play Thursday 13th October.
Important Information – Change to our Standard Variable Rate
Please be advised that the Society’s Standard Variable Rate (SVR) will be increasing with effect from 1st October 2022.
We’re making a change to our SVR for the first time since 2020 and this increase reflects a change in market conditions and lending costs.
Our SVR will increase by 0.95%, from 3.96% to 4.91% and we will be notifying sourcing systems today of this change.
The change applies to all residential, self-build and buy-to-let mortgage products and for properties in England, Wales, Scotland and Northern Ireland.
Existing Customer product withdrawals
Please be advised our remaining Existing Customer Mortgage Range and will be withdrawn today. We are continuing to review our rates and new products will be launched soon.
Messaging has been added to the online product transfer tool and broker product transfer tool which advises our range has been withdrawn for a short period, whilst we look to reprice.
No further ESIS documents and no further applications will be permitted from close of play Tuesday 27th September. Please refer to the FAQs circulated by Karen Fisher in preparation for any calls you may receive.
Additional Mortgage Product Withdrawals
Please be advised we have taken the decision to withdraw an additional number of products in our new customer range. These products will be replaced with new products and rates towards the end of next week.
3.65% 2 Year Discount £999 Fee – EDIS206
4.50% 2 Year Fixed £999 Fee – EFII424
4.75% 5 Year Fixed No Fee – EFII442
4.75% 5 Year Fixed Deposit Unlock – DEPU038
No further ESIS documents will be permitted from close of play today and no further applications from close of play Monday 26th September (subject to available tranches).
Urgent existing customer mortgage product withdrawals
We will be withdrawing a number of existing customer products from close of play (8pm) tonight.
All customers with a standard residential product or interest only product will now be offered our 95% LTV Existing Customer rates.
When transferring interest only customers to these rates please ensure this is done as a product transfer not as a scheme variation.
For ease I have attached a spreadsheet listing the products we are withdrawing and confirming the products remain in the range. I have also attached the updated product guide.
No further ESIS documents will be permitted from close of play today and no further applications from close of play Monday 26th September.