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.
Launching Joint Mortgage Sole Proprietor Product
Newcastle Intermediaries will be re-launching our Joint Mortgage Sole Proprietor product (JMSP) with effect from Monday 27th July 2020.
Our JMSP product could help your clients get onto the property ladder or even purchase a home later in life or following a change in circumstances, by using the income of a family member to increase borrowing capacity.
Key Features
- Borrow from £25,000 to £1,000,000;
- Max Loan to Value 80%;
- Two Year Fixed rate with no product fees along with a free standard valuation and £500 cashback providing a low cost option for your clients;
- 10% overpayments per annum which supports your clients who require the flexibility to make lump sum overpayments. This is in addition to a regular monthly overpayment allowance of £499
Product Withdrawals
We have now filled the tranches on our 60% LTV re-mortgage exclusive products and to that end, we will be withdrawing them from close of business today, Monday 20th July 2020.
For clarity, the products where tranches are full are as follows:
- 1.90% Fixed Rate until 31.10.2022
- 1.46% Fixed Rate until 31.10.2022
Please note that our competitive 80% LTV re-mortgage exclusive mortgage products will however remain in the portfolio.
Any existing illustrations on the above withdrawn products will be honoured until close of business Wednesday 22nd July 2020.