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 launching a range of competitive Residential and Buy to Let products with effect from Friday 3rd July 2020.
The product range highlights include the following;
Residential Mortgage Products
- Two and Five Year products available up to 80% LTV on loans up to £1m;
- Interest rates reduced by up to 0.40% from our recently withdrawn product range;
- Choice of fee assisted products which offer a free standard valuation and £500 cashback providing choice for your clients;
- 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;
BTL Mortgage Products
- Two and Five Year products available up to 75% LTV on loans up to £500k;
- Choice of fee assisted products with a free valuation and £500 cashback, providing choice and flexibility;
- The rental calculation on our five year fixed products are assessed on 145% at 4% on an Interest Only basis;
- All of our cases are individually underwritten and we have no maximum age criteria at the end of the term;
- 10% overpayments, in addition to the £499 regular monthly overpayments already permitted;
Key BTL Features:
• We have both 2 and 5 year products available
• Choice of fee-assisted products with a free valuation and £500 cashback, providing choice and flexibility
• The rental calculation on our five year fixed products are assessed on 145% at 4% on an Interest Only basis
• Maximum 75% LTV on mortgages up to £500,000
• 10% overpayments, in addition to the £499 regular monthly overpayments already permitted
2 Year
• 2.46% Fixed Rate until 31.12.2022 (5.5% APRC) which comes with no product fees, free standard valuation (on properties up to £500,000) and £500 cashback
• Early repayment charge of 2% until 31.12.2021 and 1% until 31.12.2022
5 Year
• 2.49% Fixed Rate until 31.12.2025 (4.7% APRC) with £999 fee
• 2.70% Fixed Rate until 31.12.2025 (4.7% APRC) which comes with no product fees, free standard valuation (on properties up to £500,000) and £500 cashback
• Early repayment charge of 5% until 31.12.2021, 4% until 31.12.2022, 3% until 31.12.2023, 2% until 31.12.2024 and 1% until 31.12.2025 for both 5 year products