Reduced rates on Interest Only products
To support strong demand in the market, we're significantly reducing rates across our full range of Interest Only mortgage products by up to 0.60%. The new range of competitive products are launching to support both home movers and customers remortgaging.
All new Interest Only product rates can be found on our product page.
Key features:
- Competitive 2 and 5 year products available
- Choice of fee asssisted 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
Lending policy highlights
- Available up to 75% LTV and an additional 5% LTV can be secured on a repayment basis
- Affordability will be calculated on an interest only basis
- Maximum age for borrowers at the end of the mortgage term is 80
Product range
2 year
- 2.39% Fixed Rate until 30.06.2023 (3.9% APRC), with £999 fee
- 2.99% Fixed Rate until 30.06.2023 (3.9% APRC) which comes with no product fees
- Early repayment charges of 2% until 30.06.2022 and 1% until 30.06.2023 apply
5 year
- 2.75% Fixed Rate until 30.06.2026 (3.7% APRC) with £999 fee
- 3.15% Fixed Rate until 30.06.2026 (3.8% APRC) which comes with no product fees
- Early repayment charges of 5% until 30.06.2022, 4% until 30.06.2023, 3% until 30.06.2024, 2% until 30.06.2025 and 1% until 30.06.2026 apply
All product details and the full range of products can be found on our website.
Contact us
We will be delighted to discuss any new enquiries or any other queries you might have about existing applications. Call our Intermediary Support team on 0345 602 2338 or email us at intermediary.lending@newcastle.co.uk. Alternatively, you can contact your dedicated Business Development Manager.