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 95% LTV Products
I am pleased to confirm that Newcastle Intermediaries will be refreshing its range of two and five year 95% LTV residential products, with significant rate reductions of up to 0.56%, with effect from Wednesday 20th October 2021.
In addition, we are also removing upfront reservation fees from our products making the application process simpler for both and your clients.
The product range includes the following highlights;
- Competitive range of Two and Five Year Fixed Rates available at 95% LTV for both house purchase and re-mortgages;
- Fee assisted products with a free standard valuation (on properties up to £500k) and £500 Cashback 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;
The existing product range will be withdrawn by close of business today, Tuesday 19th October, however any existing illustrations will be honoured until close of play Thursday 21st October 2021.
Full product details will be found on http://www.newcastleis.co.uk/products.aspx upon launch
Important Information – Launch of First Home Scheme Mortgage Products
I am pleased to confirm that Newcastle Intermediaries will be launching its range of competitive, standalone products specifically for the Government First Home scheme, with effect from Wednesday 20th October 2021.
The bespoke range includes both two and five year products that will be live on sourcing systems tomorrow.
Key features:
- Up to 75% LTV
- Competitive range of 2 and 5 year products available
- 10% overpayment facilities across all products along with Free standard valuation
Full product details will be found on http://www.newcastleis.co.uk/products.aspx upon launch.
Refresh of 85% & 90% LTV Products
Newcastle Intermediaries will be refreshing its range of 85% & 90% LTV residential mortgage products with effect from tomorrow Friday 22nd October 2021.
The product range includes the following highlights;
- Available for both house purchase and re-mortgages;
- Competitive range of 2 and 5 year products available;
- Choice of fee assisted products including a free standard valuation and £500 cashback on selected products;
- Removal of upfront reservation fees;
- 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;
The existing product range will be therefore be withdrawn by close of business today, however any existing illustrations will be honoured until close of play Tuesday 26th October 2021.
Full product details will be found on http://www.newcastleis.co.uk/products.aspx upon launch
Newcastle Intermediaries Enhancing Its Large Loan Proposition.
I am pleased to confirm that Newcastle Intermediaries will be enhancing its Large Loan proposition, designed to support your higher earning professional clients, with effect from tomorrow, Friday 22nd October 2021.
The enhancements will include;
- The addition of two and five year fixed rate products available up to 80% LTV which will complement the existing discounted variable rate products in the range;
- Rate reductions across selected discounted products;
- Reduction in completion fees and the removal of upfront reservation fees.
Key Features & Service Highlights:
- Dedicated service with direct underwriter access
- Loans from £500k – £1m at 80% LTV
- Loans from £1m – £1.5m at 75% LTV
- Loans from £1.5m – £2m at 65% LTV
- Enhanced income multiples up to 5.5x
- Acceptance of up to 100% bonus/commission (subject to underwriter discretion)
- Interest Only loans available up to 75% LTV or 80% on a part Capital & Repayment basis
Full product details will be found on http://www.newcastleis.co.uk/products.aspx upon launch.
The existing products will therefore be withdrawn from close of business today Thursday 21st October. No further DIP’s will be permitted however; any existing illustrations will be honoured until close of business Tuesday 26th October 2021.
Newcastle Intermediaries Enhancing Its Deposit Unlock Proposition.
We have enhanced our Deposit Unlock proposition to further support borrowers purchasing a new build home using this scheme, with effect from tomorrow Friday 22nd October 2021.
As the original lender to join the scheme, we have now reduced rates across both our two and five year products, with market leading rates now starting at 2.79%! We have also increased the maximum purchase price, allowing borrowers to secure a new build home up to the value of £600,000 with a deposit of just 5%.
Our Deposit Unlock mortgage proposition
- Reduced rates on 2 and 5 year fixed rate products
- Available up to 95% LTV
- Increased maximum purchase price to £600,000
- No product fees
- Free standard valuation and £500 cashback
Full product details will be found on http://www.newcastleis.co.uk/products.aspx upon launch.
The existing products will therefore be withdrawn from close of business today Thursday 21st October. No further DIP’s will be permitted however; any existing illustrations will be honoured until close of business Tuesday 26th October 2021.