Newcastle extends bridging options

Newcastle has extended its bridging products to offer a faster option for buy-to-let investors.

The Day 1 Bridge deal, whch will run alongside Newcastle’s existing 30-day bridging product, provides investors with the opportunity to purchase buy-to-let property as a cashless process.

The society will provide up to 100% of the purchase price, provided it does not exceed 85% of the value.

Steven Marks, lending and operations executive at Newcastle, says: “This product is designed to enhance the product choices open to investors and the comparable rates offered ensure that brokers are provided with an attractive and competitive bridging product.

“Newcastle is confident that the Day 1 Bridge will provide buy-to-let investors with further options to grow their portfolios while considering the best use of their cash resources.”