Expansion of Our Self Build Proposition with Accelerate Products
20th May 2019
We are expanding our Self Build proposition by introducing advanced payment products exclusively available through Build Store and its intermediary arm, Build Loan.
These new products are designed to support borrowers who would benefit from having the fund released at the beginning of the building phase. Borrowers can choose between either a two year base rate tracker or a two year fixed rate.
The two year base rate tracker is currently at 5.29% (5.7%APR) and available at a max LTV of 85%, fees of £1,194 with 10% overpayments per annum and an early repayment charge of 2% until 31st July 2020 and 1% until 31st July 2021.
Alternatively, a two year fixed rate is available at 5.59% (5.8%APR) a max LTV of 85%, fees of £1,194 with 10% overpayments per annum and an early repayment charge of 2% until 31st July 2020 and 1% until 31st July 2021.
Stuart Miller, customer director at Newcastle Intermediaries, said: "We're pleased to be able to provide this additional support for borrowers who are wanting to build their own home. The Advance Payment product provides access to capital at an earlier stage as we can advance up to 85% of the phase costs, meaning more flexibility and the comfort of knowing that the funding is accessible in advance of each stage."
All self-build product details and the full range of available products can be found here.
Should you require any further help or assistance, please do not hesitate to contact us.