Newcastle Intermediaries updates self and custom-build offering

Newcastle Intermediaries has made updates to its self and custom-build proposition by extending the availability of its range and removing reservation fees.

Available through BuildLoan, the lender’s self and custom-build offering features a range of two-year variable rates up to 85% LTV.

Among the products is a self-build, arrears stage payments products available on a two-year variable rate of 5.89%, with no product fees applying and the mortgage indemnity guarantee fee paid by the lender.

This product also allows 10% overpayments per annum to support borrowers who require the flexibility to make lump sum overpayments, Newcastle confirmed. Early repayment charges of 1% will apply until 31 March 2024.

Available as both a self and custom-build mortgage, Newcastle also confirmed that a two-year variable rate of 5.99% is available, offering both arrears and advanced stage payments. The lender added that this product is available with zero product fees and no early repayment charges.

Head of intermediary mortgages at Newcastle Building Society, Franco Di Pietro, commented: “Offering flexibility around self and custom-build mortgages is an important area of lending which is traditionally underserved by the market.

“That’s why we’re looking keenly at what we can do to support brokers and their clients, and we’ve made those products even more accessible by removing reservation fees and extending the availability of the range.”

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