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 Launch
Newcastle Intermediaries are pleased to announce we are reducing the rates and expanding our current interest only, JMSP and large loan ranges, to include more options to suit a wider range of customers. We are also reducing the rates on our base rate tracker product.
The key highlights are as follows:
- A range of fee assisted products to support clients who are looking for assistance with costs;
- 10% overpayment facilities across our products, which supports our clients who require the flexibility to make lump sum overpayments. This is in addition to the £499 regular monthly overpayments already permitted;
- Two and five year options to suit a wider range of customers
The following products are being withdrawn COB Tuesday 1st August, any existing illustrations will be honoured until close of play Thursday 3rd August 2023.
- RETN024
- EBRT129
- EFII786
- JMSP152
Change to our Standard Variable Rate
Please be advised that the Society’s Standard Variable Rate (SVR) will be increasing with effect from 1st September 2023.
From this date our SVR will increase by 1.00% from 5.94% to 6.94% 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.
Buy to Let Mortgage Launch
Newcastle Intermediaries are pleased to announce we are re-launching two 5 year Buy To Let products into the range, including a fee assisted option, on Monday 7th August.
The key highlights are as follows:
- A fee assisted product to support clients who are looking for assistance with costs;
- 10% overpayment facilities across our products, which supports our clients who require the flexibility to make lump sum overpayments. This is in addition to the £499 regular monthly overpayments already permitted;
Full details will be detailed on the product guide upon launch.