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Newcastle Intermediaries updates self and custom-builds

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  • 24/11/2021
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Newcastle Intermediaries updates self and custom-builds
Newcastle Intermediaries has expanded availability and removed the reservation fees for its self- and custom-build mortgage products.

 

Available through BuildLoan, the lender’s self and custom-build range features a range of two-year variable rates up to 85 per cent LTV.

A self-build, arrears stage payment product is available on a two-year variable rate of 5.89 per cent. No product fees apply and the mortgage indemnity guarantee fee is paid by the lender.

This product also allows 10 per cent overpayments per annum to support borrowers who require the flexibility to make lump sum overpayments. Early repayment charges of one per cent apply until 31 March 2024.

Available as both a self and custom-build mortgage, a two-year variable rate of 5.99 per cent (APRC 4.4 per cent) is available offering both arrears and advanced stage payments with zero product fees and no early repayment charges.

Franco Di Pietro (pictured) head of intermediary mortgages, said: “Offering flexibility around self and custom-build mortgages is an important area of lending which is traditionally underserved by the market.

“That’s why we’re looking keenly at what we can do to support brokers and their clients, and we’ve made those products even more accessible by removing reservation fees and extending the availability of the range.”

Last month, Newcastle Intermediaries expanded its large loan range and increased its maximum loan amount to £2m.

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