Newcastle Intermediaries reduce rates and expand product range across Shared Ownership proposition
20 November 2023
Newcastle Intermediaries has reduced rates across its 95% LTV Shared Ownership proposition, and introduced 85% and 90% LTV products to the range.
The expansion to the lender’s Shared Ownership range comes alongside reduced 95% LTV rates, including a two-year fixed rate at 5.99% (7.1% APRC), with early repayment charges of 2% until 30.04.2025 and 1% until 30.04.2026.
A five-year fixed rate is also available at 5.65% (6.7% APRC), with early repayment charges of 5% until 30.04.2025, 4% until 30.04.2026 and 3% until 30.04.2027, 2% until 30.04.2028 and 1% until 30.04.2029.
Both products are available for house purchase and remortgage, come with a £999 product fee, and offer an overpayment facility of 10% each year.
The expansion of Newcastle Building Society’s Shared Ownership range follows recent enhancements to its proposition, including the introduction of products for re-mortgage and staircasing. These updates provide Shared Ownership buyers with greater flexibility and the opportunity to increase their share in the property up to 100% of the value in increments of 5%.
Franco Di Pietro, head of intermediary mortgages at Newcastle Building Society said: “The new products in our Shared Ownership range are designed to support brokers and their clients with larger deposits, complementing our existing 95% LTV products to provide greater choice and flexibility for borrowers.”
All product details and the full range of available products can be found at: www.newcastleis.co.uk.