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Newcastle Intermediaries has made the decision to extend its self-employed range to buy to let landlords and into Help to Buy.
The firm has stated that the change has been made in line with the trend in the UK of growing self employment.
The new self-employed buy to let mortgage product is a two-year fixed rate deal at 2.99 per cent up to 75 per cent Loan To Value (LTV). The product has no fees, a free valuation and £500 cashback. It also allows 10 per cent overpayments per year. There is an early repayment charge of 2 per cent until 31 May 2019, and a 1 per cent repayment charge until 31 May 2020.
The Help to Buy range offers two separate options of two-year fixed rate mortgage products at 75 per cent Loan To Value.
The first product is fee-assisted with a rate of 2.55 per cent. It comes with a free valuation, £500 cashback and allows 10 per cent overpayments a year. There is also an early repayment charge of 2 per cent until 31 May 2019 and 1 per cent until 31 May 2020.
The second new product has a rate of 2.05 per cent along with an £800 completion fee and £199 reservation fee payable upfront. For the second Help to Buy offering, overpayments of up to 10 per cent a year are allowed. The option has an early repayment charge of 2 per cent until 31 May 2019 and 1 per cent until 31 May 2020.
Newcastle Intermediaries head of mortgage distribution Steve Carruthers commented on the development of the range: ‘Following on from the success of the launch of our self-employed product range and feedback from brokers outlining the growing need for support in this market, we’re delighted to expand into the Help to Buy and buy-to-let markets.’