Newcastle Intermediaries improves buy-to-let criteria

Published on

Newcastle Intermediaries has reduced the minimum income requirement for joint buy-to-let properties from £40,000 to £30,000.

Its existing buy-to-let lending policy includes no maximum age limit and five-year fixed products stressed at 145% at 4%.

To support this change, Newcastle Intermediaries has also announced a range of refreshed range of buy-to-let products, including fee assisted options.

All products in the range allow borrowers to overpay by 10% of their mortgage balance per annum, over and above the existing policy which allows £499 regular monthly overpayments, providing increased flexibility to the range for those borrowers who may wish to overpay to their mortgage.

Steve Carruthers, head of mortgage distribution at Newcastle Intermediaries, said: “As we continue to grow our buy-to-let offering, the reduction of the minimum income for joint properties reflects our commitment to the market and to providing more flexibility for brokers seeking the right choice for their clients.”

COMMENT ON MORTGAGE SOUP

We want to hear from you!
Leave a comment and get the conversation started.
You need to register to post, so please login or sign up below.

Latest articles

Aldermore unveils new limited edition five-year BTL products

Aldermore has launched a pair of limited edition five-year buy-to-let mortgages for landlords, with...

AMI calls on advisers to take part in protection survey

The Association of Mortgage Intermediaries (AMI) has launched its annual survey of mortgage and...

Broker confidence holds steady as mortgage market cools

Confidence among mortgage brokers held firm in the second quarter of the year despite...

The Suffolk cuts expat mortgage rates amid rising demand

Suffolk Building Society has cut rates across its expat mortgage range, with reductions of...

ModaMortgages unveils eight new limited edition deals

ModaMortgages has expanded its buy-to-let range by launching eight limited edition products at 80%...

Latest publication

Latest opinions

Passing the affordability exam

As teachers and students of various ages have spent August nervously opening exam results...

Investors are changing their approach – and lenders should too

The buy-to-let market never stands still, but the pace of change in recent years...

Bridging the Pond: How large is the US bridging finance market, and compared to the UK?

When we first got started with LendInvest in the UK, post the financial crisis,...

Tuning into later life lending conversations

There are certain conversations in our profession that can genuinely change the course of...

Other news

Passing the affordability exam

As teachers and students of various ages have spent August nervously opening exam results...

Investors are changing their approach – and lenders should too

The buy-to-let market never stands still, but the pace of change in recent years...

Aldermore unveils new limited edition five-year BTL products

Aldermore has launched a pair of limited edition five-year buy-to-let mortgages for landlords, with...