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Newcastle Intermediaries launches mortgages for newly self-employed

  • 07/03/2022
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Newcastle Intermediaries launches mortgages for newly self-employed
Newcastle Intermediaries has launched a new range of mortgages exclusively for self-employed applicants with just one year of full accounts.


The deals are available to self-employed borrowers who have been trading for a maximum of two years with at least one year of financials available.

A two-year fixed rate of 2.55 per cent is available through the range at 80 per cent loan to value (LTV), with a product fee of £999.

There is also a two-year fixed rate of 2.75 per cent, fee-free at 80 per cent LTV.

Both products attract an early repayment charges but allow 10 per cent overpayments per year.

Franco Di Pietro, head of intermediary mortgages at Newcastle Building Society (pictured), said: “We’re committed to supporting customers who need a more flexible lending approach.  We know newly self-employed applicants often have limited options available to them.

“We also know there are a lot of successful self-employed traders who may only have a started their business in the past few years, so these competitive new products along with our flexible approach to underwriting should provide brokers and their clients with much needed choice.”

Paul Hampton, principal at broker firm Approved Mortgage Solutions added: “This area of the market is often underserved by lenders so it’s great to see Newcastle Intermediaries re-introduce specific products for newly self-employed clients. One of the impacts of the pandemic is that it has created a new generation of self-employed, and many of those are successfully trading but only have one year of accounts. So these products will provide those clients with some positive options at the perfect time.”

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