A limited number of new mortgage deals will be initially available to a select group of brokers.
Steve Carruthers, head of mortgage distribution at Newcastle Intermediaries, (pictured) said: “Working with Legal & General is a natural next step as we grow our buy-to-let aspirations. It builds on the successful launch with TBMC last year, and reflects our commitment to the market and to providing more choice in how intermediaries can access our competitive buy to let product range.
“We will continue to provide a packaged offer through TBMC alongside increasing the width of our distribution. This is the first step in that process.”
Jeremy Duncombe, director, Legal & General Mortgage Club, said: “We are delighted to see Newcastle returning to the buy-to-let market with this range of competitive semi-exclusive products via our intermediaries, and we look forward to working closely with Steve and his team to help to grow their footprint in this important sector.”
Product details, which will initially be available to a select group of L&G brokers on an exclusive basis, comprises four fixed-rate mortgages with a three-year beginning at 2.15% up to 75% loan-to-value.
Newcastle Intermediaries launched into buy to let in September last year.
Carruthers said: “We’ll be increasing our activity across a number of fronts to enable us to start communicating our great proposition to brokers – we want to be recognised as a service led provider, offering competitive products and a great process, alongside strong relationship management. We’ll continue to work alongside our key distribution partners to deliver on this.”
Carruthers added: “We’re growing our BDM team, we have a raft of events we’ll be attending this year, and we’ll be widening our marketing reach. We have a great story to tell so intermediaries will hear more from us about our proposition and the competitive products we can offer to meet their needs.”