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
Mortgage Product Withdrawals
Acquisition
- EFII702 – 95% LTV fee 5 YR 4.95%
- EFII701 – NE Exclusive 5 YR 4.99%
- EFII704 – 90% LTV no fee 5 YR 4.99%
The below retention products will be withdrawn for both illustrations and applications COB today;
Retention
- EBRT123 – 2 YR BRT 4.70% 80%
- EBRT124 – 2 YR BRT 5.05% 80%
- EFII727 – 2 YR Fixed 4.45% 80%
- EFII728 – 2 YR Fixed 4.85% 80%
- EFII729 – 5 YR Fixed 4.35% 80%
- EFII730 – 5 YR Fixed 4.59% 80%
We are pleased to announce we are refreshing the rates across our residential, Deposit Unlock, Government First Home Scheme and NE & LISA Exclusive propositions, as well as refreshing the rates on our 95% Existing Customer range, launching Thursday 1st June.
The key highlights are as follows:
- A range of fee assisted products to support customers who are looking for assistance with costs;
- 10% overpayment facilities across our products, which supports our customers who require the flexibility to make lump sum overpayments. This is in addition to the £499 regular monthly overpayments already permitted
The following products will be withdrawn COB Wednesday 31st May, any existing applications will be honoured until close of play Thursday 1st June 2023.
- EBRT110
- EBRT122
- EBRT121
- EBRT120
- EBRT119
- EBRT118
- EFII700
- EFII705
- EFII699
- EFII703
- LISA030
- GFHS026
- GFHS025
- DEPU065
- DEPU064
- EFII715
- EFII716
- EDIS264
The following retention products will be closed to illustrations and applications COB tomorrow, Wednesday 31st May.
- EFII717
- EFII718
- EFII719
- EFII720
Change to our Standard Variable Rate
Please be advised that the Society’s Standard Variable Rate (SVR) will be increasing with effect from 1st July 2023.
From this date our SVR will increase by 0.75% from 5.19% to 5.94% and sourcing systems have also been notified of this change.
The change will affect residential, self-build and BTL customers with products linked to our SVR and applies to all properties in England, Wales, Scotland and Northern Ireland.
Following the increase, the new rate will remain currently one of the most competitive in the UK.