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 – Mortgage Product Launch
Newcastle Intermediaries are delighted to announce the launch of two 60% products, a new range of 70% residential products and a discounted Buy to Let into the range on Wednesday 1st February 2023.
The key highlights are as follows:
• Reductions in 2 year 60% fixed rate products.
- A new range of 70% 2 year, 3 year and 5 year residential products.
• 10% overpayments permitted per annum;
The following products will be withdrawn COB Tuesday 31st January, any existing applications will be honoured until close of play Thursday 2nd February 2023.
– EFII570
– EFII571
– EDIS244
– EDIS245
– EDIS246
– EDIS247
– EBTL609/610
– EBTL607/608
Important Information – Launch of replacement Existing Customer products
Newcastle Intermediaries will be making further improvements to our existing customer range by replacing our 2 and 5 Year Fixed Existing Customer Residential Mortgage products. We have reduced the rates on a number of our products across the 60% and 80% range. These changes will come into effect from Wednesday 1st February 2023.
Our Product Transfer process can be found here:
www.newcastleis.co.uk/Mortgage-Product-Transfers
The refreshed product range includes the following highlights;
- Choice of fee free and fee products up to 80%.
- Existing customers are pre-approved for product transfers.
- 10% overpayment facilities across our 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
The following products will be withdrawn COB Wednesday 1st February for both ESIS and applications:
- EFII587
- EFII589
- EFII590
- EFII600
- EFII591
- EFII556
- EFII563
Withdrawal of Discounted Variable Interest Only
Please be advised that we are withdrawing the following product COB today:
0.52% Discounted Variable Rate 2 Year (Interest Only) – EDIS243
The tranche for this product has been fully utilised. I have attached the updated product guide.
No further ESIS documents and no further applications from will be permitted from close of play today Wednesday 1st February.