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 replacement Existing Customer products
Newcastle Intermediaries will be making a number of changes to our existing customer exclusive mortgage product portfolio and will be reducing rates on the majority of our products. These changes will come into effect from Monday 23rd January 2023. This includes a refresh of our Residential, Buy to Let, Interest Only and Large Loan Existing Customer exclusive ranges.
The product ranges include the following highlights;
- Choice of fee free and fee products up to 95%.
- Existing customers are pre-approved for product transfers.
- 10% overpayment facilities across our 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The following products will be withdrawn COB Monday 23rd January for both ESIS and applications:
- EFII574
- EFII575
- EFII551
- EFII552
- EFII553
- EFII554
- EFII576
- EFII577
- EFII565
- EFII566
- EFII503
- EFII504
- EFII506
- EFII507
- EBTL602
- EBTL603
- EBTL604
- BTL605
- EFII510
- EFII512
- EDIS225
- EFII513
- EFII516
- EFII515
- EFII514
- EFII459
- EFII460
- EFII466
- EFII465
Withdrawal of Existing Customer Products
Please be advised that we are withdrawing the following product COB today.
- EFII467 – 6.09% 10 year Fixed (95% LTV)
- EFII468 – 6.29% 10 year Fixed (95% LTV)
- (newly launched) – 4.59% 5 year Fixed (80% LTV)
- (newly launched) – 4.79% 5 year Fixed (80% LTV)
Additionally, we are reinstating our recently withdrawn 5 Year Fixed 80% LTV products (EFII565 and EFII566). I have attached the updated product guide for you.
No further ESIS documents and applications will be permitted from close of play today from Tuesday 24th January 2023.
Important Information – Launch of Residential Products
Newcastle Building Society are delighted to announce the launch of new 80, 90 and 95% Residential products into the range on Thursday 26th January 2023.
The key highlights are as follows:
– Reductions in 7 & 10 year fixed rate products by up to 0.70% supporting those clients looking for the security of a longer term product;
– Refreshed 90% & 95% LTV products supporting, particularly, first time buyers looking to get onto the property ladder;
– Range of terms available to suit all customer needs;
– 10% overpayments permitted per annum;
The following existing products will be withdrawn from COB Wednesday 25th January, these products are listed below;
– EFII543
– EFII544
– EFII545
– EFII547
– EFII548
– EFII538
– EFII569
– EFII529
– EFII527
– EFII485
– EFII480
– EFIII557
– LIS027
Any existing applications will be honoured until close of play Friday 27th January 2023.