Competitive products available for Deposit Unlock
Great news! We have enhanced our Deposit Unlock proposition to further support low-deposit borrowers purchasing a new build home using the new mortgage indemnity scheme.
As the original lender to join the scheme, we have now reduced rates across both our two and five year products, with rates now starting at 2.79%! We have also increased the maximum purchase price, allowing borrowers to secure a new build home up to the value of £600,000 with a deposit of just 5%.
Our Deposit Unlock mortgage proposition
- Reduced rates on 2 and 5 year fixed rate products
- Available up to 95% LTV
- Increased maximum purchase price to £600,000
- No product fees and £500 cashback
- Free standard valuation (on properties up to £500k)
2 Year
- 2.79% Fixed Rate until 29.02.2024 (3.8% APRC), with no product fees
- Early repayment charge of 2% until 28.02.2023 and 1% until 29.02.2024
5 Year
- 3.19% Fixed Rate until 28.02.2027 (3.7% APRC), with no product fees
- Early repayment charge of 5% until 28.02.2023, 4% until 29.02.2024, 3% until 28.02.2025, 2% until 28.02.2026 and 1% until 28.02.2027
The full details of our Deposit Unlock proposition can be found on our website.
Contact us
Talk to your dedicated Business Development Manager or contact your Intermediary Support Team at Intermediary.lending@newcastle.co.uk or 0345 602 2338.