Help to Buy
Newcastle Intermediaries has entered the Help to Buy: Equity Loan market. This includes both the standard 20% equity loan (England only) and 40% in London (Help to Buy London).
All of our Help to Buy products offer
- Free standard valuation
- Cashback on selected products available or free legal on our remortgage products
- Up to 10% in overpayments permitted without penalty
- Dedicated Help to Buy phone line - 0345 602 2338 (option 3)
- Priority processing
- Dedicated Help to Buy case ownership
View our full range of Help to Buy products.
Plus our 'All in One' mortgage is now available with Help to Buy. This unique proposition offers
- Free standard valuation
- Free legal fees (excluding Stamp Duty and non standard conveyancing fees)
- No product fees
Find out more about our 'All in One' mortgage here.
The Market
Discover more about the Help to Buy market and our proposition.
Key Criteria
Help to Buy: Equity Loan
- Repayment only - maximum term of 40 years.
- Available on new build houses/flats in England up to a purchase price of £600,000.
- Must be your client's only property.
- Minimum 5% deposit.
- Maximum 75% LTV.
- The remainder (up to 20%) of the loan is funded by the government through an equity loan, which is interest-free for the first five years. Interest is charged from year six and the equity loan will run for 25 years (unless your client chooses to pay it back sooner).
- For affordability purposes we take the equity loan as a monthly commitment based on 3% of the total loan.
- Maximum Income Multiple of 4.5 x
- For Help to Buy we will accept cash based deposits (builders' deposits/stamp duty/legal fees) and incentives such as white goods or carpets up to 5% without a requirement to reduce the sale price.
London Help to Buy
- Repayment only - maximum term of 40 years.
- Available on new build houses/flats in Greater London (plus city of London) up to a purchase price of £600,000.
- Must be your client's only property.
- Minimum 5% deposit.
- The remainder (up to 40%) of the loan is funded by the government through an equity loan, which is interest-free for the first five years. Interest is charged from year six and the equity loan will run for 25 years (unless your client chooses to pay it back sooner).
- For affordability purposes we take the equity loan as a monthly commitment based on 3% of the total loan.
- Maximum Income Multiple of 4.5 x
- For Help to Buy we will accept cash based deposits (builders' deposits/stamp duty/legal fees) and incentives such as white goods or carpets up to 5% without a requirement to reduce the sale price.
Find out more about the Help to Buy scheme from the official Government website and find your local Help to Buy agent.
To find out more, please call our Intermediary Support Team on 0345 602 2338 (option 3). Our lines are open Monday to Friday 8am - 6pm.
This information is for use by authorised mortgage intermediaries only and should not be relied on by customers.