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 – Launch of Buy to Let Products
I am pleased to confirm that Newcastle Intermediaries will be refreshing its range of Buy to let products with effect from Thursday 14th January 2021.
The product range includes the following highlights:
- Two and Five Year Fixed Rates available for both house purchase and re-mortgages;
- Choice of fee assisted products with a free standard valuation (on properties up to £500k) helping your clients with their costs;
- 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.
- Maximum 75% LTV on mortgages up to £500,000
- The rental calculation on our five year fixed products are assessed on 145% at 4% on an Interest Only basis
In addition, all of our cases are individually underwritten and we have no maximum age criteria at the end of the term, to help find a deal to best suit your client’s needs.
The existing products will therefore be withdrawn from close of business today Wednesday 13th January. No further DIP’s will be permitted however; any existing illustrations will be honoured until close of business Monday 18th January 2021.
Full product details will be found on http://www.newcastleis.co.uk/products.aspx
Launch of Highly Competitive 85% LTV Mortgage Products
Newcastle Intermediaries will be reducing rates on its competitive range of 85% LTV residential mortgage products with effect from Thursday 14th January 2021.
Mortgage rates are starting as low as 2.75% and with no product fees on selected products.
With continued strong demand in the market for higher LTV products, our products come with the following key highlights:
- Choice of a competitive range of both two and five year fixed rates;
- Available to First Time Buyers, home movers and re-mortgages increasing our support in the market;
- A free standard valuation on properties up to £500k helping your clients with their costs;
- 10% overpayments per annum supporting your clients who require the flexibility to make lump sum overpayments. This is in addition to a regular monthly overpayment allowance of £499;
The existing products will therefore be withdrawn from close of business today Wednesday 13th January. No further DIP’s will be permitted however; any existing illustrations will be honoured until close of business Monday 18th January 2021.
Full product details will be found on http://www.newcastleis.co.uk/products.aspx