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
Withdrawal of Interest Only products
Please be advised that we will be withdrawing the following products from availability today:
- 3.29% Fixed Rate until 31.08.2024 (Interest Only) – EFII211
- 3.35% Fixed Rate until 31.08.2027 (Interest Only) – EFII214
The tranches for these products have been fully utilised, however new products will be announced shortly. No further ESIS documents or applications will be permitted from close of play today, Monday 23rd May
Withdrawal of 80% Discount product
Please be advised that we will be withdrawing the following product from availability today:
2.46% Discounted Rate until 31.08.2024 (80% LTV) – EDIS179
The tranche for this product has been fully utilised. No further ESIS documents or applications will be permitted from close of play today, Wednesday 25th May.
Refresh of Mortgage Products
Newcastle Intermediaries will be making changes to our mortgage product portfolio with effect from Friday 27th May 2022. This includes a refresh on selected products across our residential, Deposit Unlock, BTL and Interest Only products.
The product ranges includes the following highlights;
- Introduction of 60% LTV re-mortgage exclusive products ;
- Removal of product fees from our 10 year fixed rate;
- Expansion of our Deposit Unlock range to include 3 year products;
- Reduction in rate across our five year BTL fixed rate;
- 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The existing product range will be therefore be withdrawn by close of business today, Thursday 26th May, however any existing applications will be honoured until close of play Monday 30th May. Please be advised that this will be subject to tranche availability.
Full product details will be found on http://www.newcastleis.co.uk/products.aspx upon launch