Committed to innovation in the new build market
As a Building Society, we are committed to supporting our communities and helping customers achieve their dream of homeownership. We recognise that this can feel out of reach to a large number of customers. We therefore spend a lot of time, thought and effort in designing innovative New Build solutions that can help with borrower's affordability and ability to step onto or up the housing ladder.
Alongside our standard New Build proposition, which is available nationally and offers a maximum LTV of 90% for New Build houses and 80% for New Build flats, we also support the First Home scheme and provide a 9-month validity period on new build mortgage offers. Furthermore, in 2021 we collaborated with the Home Builders Federation and Gallagher Re to develop the mortgage indemnity Deposit Unlock scheme, becoming the first lender to support and accept applications.
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Since the launch of Deposit Unlock, our ambition has been to continue to improve this proposition for brokers and clients. Following feedback from our key intermediary partners, we are delighted to confirm that further enhancements have been added. We will now accept builder incentives, as defined in our New Build policy, including; deposit contributions, cashbacks, legal costs and stamp duty up to a maximum of 5% of the purchase price.
Freddie Scarratt, Head of Deposit Unlock at Gallagher Re, said: “Given the challenging market conditions, it is great to see Newcastle Intermediaries actively responding to broker feedback to further enhance the consumer-friendly nature and home-buyer appeal of its Deposit Unlock product offering. As the first lender to go live with the scheme back in 2021, Newcastle is once again demonstrating a forward-thinking and collaborative approach to innovation and cross-industry solution in the new build market, to ensure those with smaller deposits can continue to realise their dream of home ownership.”
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If you have any questions or would like to discuss a case, please get in touch.
If you have any questions or would like to discuss a case, please get in touch with your dedicated Business Development Manager.
Seventh-year ‘Best Regional Building Society' win!’
We're delighted to announce that we have won not one, but three awards at the What Mortgage Awards, including Best Regional Building Society for the seventh consecutive year!
We are so proud to have won Best Regional Buidling Society, Best Large Loans Mortgage Lender and Best Mortgage Lender for First Time Buyers. We were also highly commended in the following categories:
- • Best Shared Ownership Mortgage Lender
- • Best Fixed Rate Mortgage Lender
- • Best Self Build Mortgage Lender
This is a fantastic achievement and recognition for all the hard work and efforts across the Society. We also want to thank our broker partners for their continued support.