The lender has extended distribution of its product range for buy-to-let mortgages to all key partners, having previously only been available through limited distribution channels.
Buy-to-let mortgage applications can now be completed directly through the Newcastle Intermediaries website, offering brokers additional flexibility, as it retires its previous-paper based process.
Brokers will now be able to scan and upload completed documents, track the progress of an application through each stage and speak to a member of the intermediary help team through a web chat service to answer any immediate queries brokers may have.
Newcastle’s buy-to-let lending criteria has also been increased to £500,000 and rental stress will now be calculated on an interest-only basis.
For its residential mortgages, the maximum lending age has been increased from 75 to 80, as the lender identifies a need to cater to clients borrowing later in life. Meanwhile buy-to-let applications continue with no maximum age limit or end date.
Steve Carruthers (pictured), head of mortgage distribution at Newcastle Intermediaries, said since it returned to the buy-to-let market last year it has been working tirelessly to improve its products and online service and the latest improvements are evidence of that.
He added: “These improvements are further proof of just how committed we are to the intermediary market. Since returning to the market we have looked to continuously enhance our proposition and deliver the best value service for our key broker partners.”
