Launch of Interest Only Mortgage Products
I am pleased to confirm that Newcastle Intermediaries will be reducing rates across their full range of Interest Only products with effect from Friday 22nd January 2021.
Mortgage rates are starting as low as 2.39% and with no product fees on selected products.
The revised product range includes the following features;
- Competitive range of two and five year fixed rate products;
- Choice of fee assisted products with a free standard valuation providing choice and flexibility for your clients;
- 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.
These products are supported by our attractive lending policy, the highlights of which are outlined below;
- Available up to 75% LTV and an additional 5% LTV can be secured on a repayment basis;
- Affordability will be calculated on an interest only basis;
- Maximum age for borrowers at the end of the mortgage term is 80
The existing products will therefore be withdrawn from close of business tomorrow, Thursday 21st January 2021 however any existing illustrations will be honoured until close of business Monday 25th January 2021.
Full product details will be found on http://www.newcastleis.co.uk/products.aspx upon launch