Newcastle brings in 95% LTV mortgage with £1,000 cashback

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Newcastle Intermediaries is bringing in a 95 per cent LTV mortgage with £1,000 cashback.

The loan is a two-year fix at 4.09 per cent. It has a free valuation, no arrangement fees and allows 10 per cent overpayments a year.

It has an early repayment charge of 2 per cent until 31 July next year and 1 per cent until 31 July 2020.

The loan is available to first-time buyers, home movers, remortgagors and Help to Buy customers.

A Newcastle statement says: “There are fewer remortgage options for Help to Buy customers as the current market is limited. Provided they have enough equity in their home these customers can add the equity loan to their current mortgage balance at 95 per cent LTV and take advantage of £1,000 cashback with Newcastle Intermediaries.”

Newcastle Intermediaries head of mortgage distribution Steve Carruthers says: “We’re hoping that positive take up on this product will encourage roll out of an increased cashback facility over a wider range of our LTV products.”

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