Newcastle Building Society is committed to providing mortgage intermediary partners with excellent service, great products, and lending criteria that reflect your customers’ unique needs.
Here are a few key reasons to choose Newcastle for your interest only clients:
Key features:
- 2, 5, and 10-year fixed rate products available
- Free standard valuation fees, helping reduce costs for your clients
- Interest Only also available on Large Loans products
- 10% overpayments per annum, allowing borrowers increased flexibility
Lending policy highlights
- 50% LTV if using sale of mortgage property as repayment vehicle and £150k equity remaining
- Second homes are considered up to 75% LTV
- Available up to 75% LTV Interest Only or 80% LTV if part and part (a full list of suitable repayment vehicles can be found here)
- Affordability will be calculated on an Interest Only basis
- The maximum age for borrowers at the end of the mortgage term is 80
No minimum income requirement