Mortgage News
Newcastle Intermediaries relaunches Help to Buy range for first-time buyers
Newcastle Intermediaries has relaunched its Help to Buy range specifically to help first-time buyers onto the property ladder.
The lender is reintroducing its full range of Help to Buy Equity products, with a two-year fixed rate at 2.19 per cent, and a five-year fix at 2.49 per cent. The maximum loan to value is 75 per cent.
Both products are offering free standard valuation and £500 cash back, and allow overpayments of 10 per cent a year.
Additionally, borrowers can remortgage their existing Help to Buy mortgage to benefit from the new rates while maintaining their equity loan.
“The new build market is still under-served with product options for first-time buyers. So we’re pleased to be re-entering the Help to Buy market and supplying borrowers looking to get on the ladder with only a five per cent deposit,” said John Truswell, head of intermediary mortgages at Newcastle Building Society (pictured).
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The new build sector has been in talks with lenders in recent months about supporting a return to 95 per cent LTV lending.