Newcastle Building Society launch new mortgage products
By |Published On: 19th June 2015|

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Newcastle Building Society launch new mortgage products

By |Published On: 19th June 2015|

This article is an external press release originally published on the Landlord News website, which has now been migrated to the Just Landlords blog.

Newcastle Building Society has become the latest group to announce new mortgage products for its customers.

Four mortgage products have been revealed, specifically for the New Build marketplace. The lender has confirmed that these will be up to 90% LTV and are catered towards first-time buyers looking to buy a new property.

Low

Additionally, all four products come without fees, keeping upfront payments low. What’s more, builder and developer incentives can be included with a deposit for 85% range products.

All 90% LTV products are equipped with two and five year fixed rate options. For two-year products, the cost is fixed at 3.89% and for five years, rates are fixed at 4.10%.[1]

85% products LTV are available at 3.04% fixed-rates over two years, whereas five-year products will be fixed at 3.55%.[2]

Furthermore, changes to the Newcastle Building Society’s lending policy will now see the maximum LTV dependent on the presence of builders incentives or whether the property is a new build house or flat.

Newcastle Building Society launch new mortgage products

Newcastle Building Society launch new mortgage products

Support

‘The Society has supported first-time buyers for a number of years through our mortgage products with LTVs up to 95%,’ said Steve Urwin, Newcastle Building Scoeity’s Director of Sales and Marketing. ‘The launch of specific products for the new build market will continue to support first time buyers and next time buyers in a market that has and is expected to expand in the next couple of years,’ he continued.[3]

‘The products have been designed with a range of fixed rate terms to offer flexibility, as well as fees free and cash-back options to help keep upfront cost low for first time buyers,’ Urwin added.[4]

[1] http://www.propertyreporter.co.uk/finance/new-build-products-launched-at-newc4stle-bs.html

 

 

About the Author: Em Morley (she/they)

Em is the Content Marketing Manager for Just Landlords, with over five years of experience writing for insurance and property websites. Together with the knowledge and expertise of the Just Landlords underwriting team, Em aims to provide those in the property industry with helpful resources. When she’s not at her computer researching and writing property and insurance guides, you’ll find her exploring the British countryside, searching for geocaches.

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