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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.”


CML predicts grim future for lending

The Council of Mortgage Lenders has warned that the outlook for lend- ing levels in the next few months has worsened.The CML issued the warning in its latest gross lending report, which shows gross lending increased by 5% to an estimated £26.3bn in March from £25bn in February.But from a year-on-year perspective, the report says […]

Cover sales can help brokers survive

Gross mortgage lending fell 7% in February compared with the month before and was down year-on-year. This could translate into a downturn in revenues for brokers.

Good news for TFC Homeloans

TFC Homeloans reports an increase in business volumes of around 30% in the past month. The lender, part of the Orbiter Group, says applications have risen by nearly 90% since December 2007.

Expo Manchester to feature FSA clinic

This year’s Mortgage Business Expo Manchester will feature an advice centre where delegates can meet a Financial Services Authority representative.


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