Newcastle Intermediaries extends BTL distribution to all partners

Steve Carruthers

Newcastle Intermediaries has extended distribution of its buy to let mortgage range to all of its key partners.

The range, which includes loans up to 75 per cent LTV, was previously available only through TBMC and limited distribution channels.

All applications are individually underwritten, allowing them to be reviewed on a case by case basis.

Changes have also been made to Newcastle’s BTL lending criteria, increasing the maximum loan amount on individual properties to £500,000 and rental stress is now calculated on an interest only basis, regardless of repayment type

Brokers can now make BTL mortgage applications directly through the Newcastle Intermediaries website.

Benefits include online document upload, automated email case tracking and web chat.

Head of mortgage distribution Steve Carruthers (pictured) says: “As we continue to grow our BTL offering, extending the distribution across all our key partners makes sense to help us build on the success we have had since it launched.

“Along with the positive changes to our lending policy, it reflects our commitment to the intermediary market and to providing more choice and flexibility for brokers to access our Buy to Let product range.”

Newcastle Intermediaries has also increased the maximum lending age for residential mortgages to 80 from 75, with BTL applications continuing to have no maximum age limit at application or end date.