You are here: Home - News -

Newcastle BS unveils 95% LTV range for FTBs

by:
  • 24/11/2017
  • 0
Newcastle BS unveils 95% LTV range for FTBs
Newcastle Building Society has added a range of 95% loan-to-value (LTV) products with free legal fees designed for first-time buyers as part of an overhaul of its mortgage range.

The move is in response to the Budget announcement which cut stamp duty on property values up to £300,000 for all first-time buyers.

Borrowers can choose between a two-year fixed deal at 4.25% or a five-year fixed rate at 4.60%.

Both products include all standard legal costs and have no reservation or completion fees.

The lender will also appoint an approved solicitor on the borrowers’ behalf to arrange completion of the purchase.

It said the range was designed to take away upfront and often unexpected fees, as well as streamline the purchase process.

Earlier this week the lender cut interest rates on buy-to-let and self-employed loan products.

 

First home

Newcastle Intermediaries head of mortgage distribution Steve Carruthers (pictured) said: “We’re fully committed to helping first-time buyers onto the property ladder and welcome the Budget announcement this week, which will hopefully help even more people own their first home.

“These products, with the addition of inclusive legal fees, could be an ideal choice for first-time buyers hoping to maximise their savings for their deposit by assisting with the upfront costs of buying a property.

“We understand that buying a home, especially a first home, is an exciting but daunting time and we hope to be able to make the experience much easier for borrowers,” he added.

There are 0 Comment(s)

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 @ashridgepf: Well what a surprise! We love our clients and they obviously are quite fond of us. Mortgage applicants find humans more r…
  • RT @DanielleDennis9: Always love reading through the tweets of the year every December! Have a look through to recap on a great year https:…
  • RT @mortgagestall: Great to see the hard work brokers put in is getting ever-more recognised https://t.co/cg4ZaJzZJZ
Read previous post:
/IMG/679/310679/steve-webb-pensions-minister.png
Budget 2017 ‘stealth tax’ to hit millions with endowments and whole of life policies – Royal London

Millions of people with savings such as endowments and 'whole of life' policies with insurance companies are set to be...

Close