Newcastle enhances its buy to let mortgage lending policy.
Newcastle Intermediaries has recently made changes to its buy to let mortgage lending policy. The enhancement, which comes in the form of the removal of the £499 per month over-payment cap, also applies to part of its residential mortgage range.
To reduce the size of the loan as much as possible, landlords can now over-pay up to as much as 10% of the outstanding balance per annum.
Newcastle’s lending criteria also includes stress-testing at 145% at 4% for its 5 year fixed rate range, with no maximum age limitation.
For the greatest choice of the most flexible buy to let mortgages on the market, consult with one of our experts at Deal Direct.
We are regulated to offer independent mortgage advice; however, we are not regulated to offer general financial advice. If you want to discuss the suitability of property as an investment, you will need to contact an independent financial adviser.
Please note:
Buy to let mortgage applications from:
- applicants whose intention is to benefit from house price growth
- applicants whose intention is to benefit from rental income
- applicants who are letting to buy
will be treated as normal buy to let and not as a consumer buy to let. In addition, their subsequent remortgage applications will also be treated in the same manner.
For a UK-wide choice of buy to let mortgages, call 0800 048 8828 now.
