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Barclays adds new build deals, Newcastle BS cuts joint borrower rates – roundup

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  • 13/05/2019
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Barclays adds new build deals, Newcastle BS cuts joint borrower rates – roundup
Barclays and Newcastle Building Society have confirmed rate cuts and product launches.

 

Barclays is introducing a set of fee-free new build mortgages with £1,000 cashback from tomorrow.

The deals include a pair of Help to Buy loans and come at either 75 per cent or 90 per cent loan to value (LTV), with rates starting at 2.09 per cent.

The lender is reducing seven products by 0.05 per cent; including three for buy-to-let purchase and remortgage and four existing mortgage customer reward deals.

It is also increasing two residential deals by 0.05 per cent – both are two-year fixes with a £999 product fee and up to 60 per cent and 70 per cent LTV respectively.

 

Newcastle Building Society

Newcastle Intermediaries has reduced rates on its joint mortgage sole proprietor range by up to 0.59%.

The lender said its joint mortgage sole proprietor deals were available for those aged 18 to 80, and were popular for families who want to lend a hand to relatives.

Its five-year fix has been cut by a 0.59 per cent to 3.60%, for up to 95 per cent LTV, with no fees, free valuation, £500 cashback and 10% over payments allowed per annum.

The two-year fix has been reduced by 0.45 per cent to 3.40 per cent, also at up to 95 per cent LTV, and the same fees and cashback arrangements.

Newcastle Intermediaries customer director Stuart Miller said the rate reductions would help support first-time buyers onto the property ladder.

“We recognise that a significant number of people are able to provide financial support to help family members on their home owning journey,” he said.

“We’ve built additional flexibility into the product so that family members can come off the mortgage when the occupier can demonstrate they can support repayments themselves.”

 

 

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