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.
Newcastle Intermediaries will be enhancing our mortgage portfolio by adding some competitive products to our existing 80% LTV range, with rates starting as low as 1.89%
These mortgage products will launch with effect from Friday 23rd October 2020 and include the following highlights;
- Two and Five Year products available up to 80% LTV on loans up to £1m;
- Available for both house purchase and re-mortgage;
- 10% overpayments per annum which supports your clients who require the flexibility to make lump sum overpayments. This is in addition to a regular monthly overpayment allowance of £499;
Newcastle Intermediaries will be launching a revised range of Interest Only products with effect from Monday 19th October 2020.
The revised product range includes the following features;
o Competitive range of two and five year fixed rate products;
o Choice of fee assisted products with a free standard valuation providing choice and flexibility for your clients;
o 10% overpayment facilities across all products, which supports your clients who require the flexibility to make lump sum overpayments. This is in addition to the £499 regular monthly overpayments already permitted.
These products are supported by our attractive lending policy, the highlights of which are outlined below;
– Available up to 75% LTV and an additional 5% LTV can be secured on a repayment basis;
– Affordability will be calculated on an interest only basis;
– Maximum age for borrowers at the end of the mortgage term is 80
The existing products will therefore be withdrawn from close of business Monday (19th) however any existing illustrations will be honoured until close of business Wednesday 21st October.
Full product details will be found on http://www.newcastleis.co.uk/products.aspx upon launch