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 – Newcastle Building Society launch into the Shared Ownership Market
Newcastle Intermediaries are delighted to announce we will be entering the Shared Ownership Market from tomorrow with a range of exclusive shared Ownership products to support the launch.
Products will also be available on sourcing systems and on the Intermediary website from tomorrow.
Shared Ownership
- To be eligible for Shared Ownership, your maximum household income must not exceed £80,000 per annum, or £90,000 in London.
- Shared Ownership products are available for properties in England only
- Must follow the approved Homes England model lease (Post 2010-Model Lease)
- Products are repayment only for new house purchase.
- New build properties allowed.
- Minimum Share 25% LTV
- Maximum Share 75% LTV
- Available up to Maximum 95% of Share
Important Information – Launch of New Mortgage Products
Newcastle Intermediaries will be making a number of changes to our mortgage product portfolio, including the addition of 80% and 85% discounted products, with effect from today Friday 18th November 2022.
The new products include the following highlights;
- 10% per annum overpayment facility in addition to £499 regular monthly additional payments
Withdrawal of 95% product
Please be advised that we are withdrawing the following product COB today.
6.95% Fixed Rate 5 Year (95% LTV) – EFII484
The tranche for this product has been fully utilised.
No further ESIS documents will be permitted from close of play today and no further applications from Friday 25th November.