You are here: Home - News -

Newcastle Intermediaries ups BTL overpayment cap across range

by:
  • 06/04/2017
  • 0
Newcastle Intermediaries ups BTL overpayment cap across range
On the day of the mortgage interest tax relief changes, Newcastle Intermediaries has increased the level of over payments allowed to 10% without penalty across its buy-to-let range.

With mortgaged landlords consolidating finances to lower tax liabilities ahead of the tax change today, the lender has begun accepting the yearly overpayments of 10% on top of the £499 monthly allowance already in place.

This change enhances its existing buy-to-let lending policy which includes no maximum age limit and five-year fixed products stressed at 145% at 4%.

Ben Smith, product development and propositions manager at Newcastle Intermediaries, said: “As we continue to grow our buy to let offering, the introduction of additional over payments reflects our commitment to the market and to providing more choice and flexibility for intermediaries to access our buy to let product range.”

The new tax year begins today, marking the start of the tiered drop in mortgage interest rate relief to 20% over the next four years.

There are 0 Comment(s)

Comments are closed.

You may also be interested in

Business Skills

In this section, we offer short ‘how to’ guides on harder to crack areas of business. From social media, to regulation or niche product areas, we cover it all.

Profiles

Our journalists interview key industry entrepreneurs, strategists and commentators for day-to-day market insight and a strategic view of where the industry is heading. We offer lessons for success and explore the opportunities for your business

Success in Practice

Here, we share case studies fleshing out best practice to help you decide what could work for your business. Take a look at how others approached complex tasks like launching a new mortgage lender, advising on a new product area or deciding to specialise in another. Learn from others mistakes and triumphs.

Marketwatch

Each week, we ask top mortgage and property commentators with a unique perspective to examine a key news headline, market move or regulatory or political issue.

Poll

Vote in our weekly poll here. It’s your chance to tell us what you think and be heard on the top news stories of the week. Review our archive to find out what your industry really thinks and all our coverage of the results.

Top Comments

Be part of the conversation on Mortgage Solutions. We want to hear from you. We have a tool called Disqus to tell us which stories get the most comments each week. Every Friday, the team picks the most thoughtful or opinionated contributions from our readers to enjoy again. Don’t forget to share your favourite stories from the site on social media to keep the conversation going.
  • RT @OTJournalist: “As the reality of April’s tax changes starts to bite, the proportion of deals available to limited companies has grown d…
  • RT @OTJournalist: "Mortgage industry faces a conundrum. It needs to embrace technology to give consumers more choice & efficiency but fears…
  • RT @MtgSearchGo: Buy-to-let product numbers for limited companies doubled in 12 months - #Mortgage Solutions https://t.co/722e3F6YFi via @m
Read previous post:
2241164-buytolethouse
Landlords face tighter mortgage interest relief tax regime

From today, landlords can no longer deduct mortgage interest costs from their taxable profits on property, bringing in a new...

Close