Interest Only proposition for your clients
We're increasing the competitiveness of our Interest Only mortgage products, reducing rates by up to 0.30%! Combined with our flexible lending policy, this new range of competitive products are available to support both home movers and customers re-mortgaging.
Here are a few key reasons to choose us for your Interest Only clients:
Key features and policy highlights
- Competitive 2 and 5 year products available
- Choice of fee assisted products including a free standard valuation
- 10% overpayment facilities, which supports your clients who require the flexibility to make lump sum overpayments. This is in addition to the £499 regular monthly overpayments already permitted
- Available up to 75% LTV interest only or 80% LTV if part and part
- Affordability will be calculated on an interest only basis
- Maximum age for borrowers at the end of the mortgage term is 80
Interest Only product range:
2 year
- 2.09% Fixed Rate until 31.01.2024 (3.7% APRC), with £999 fee
- 2.75% Fixed Rate until 31.01.2024 (3.8% APRC) which comes with no product fees
- Early repayment charges of 2% until 31.01.2023 and 1% until 31.01.2024 apply
5 year
- 2.90% Fixed Rate until 31.01.2027 (3.5% APRC) which comes with no product fees
- Early repayment charges of 5% until 31.01.2023, 4% until 31.01.2024, 3% until 31.01.2025, 2% until 31.01.2026 and 1% until 31.01.2027 apply
All available product details and lending criteria can be found on our website.
Talk to your dedicated Business Development Manager or contact your Intermediary Support Team at Intermediary.lending@newcastle.co.uk or 0345 602 2338.