View more on these topics

Newcastle Intermediaries launches 1.99% 3-year fix

Currency-Money-Coins-GBP-Pounds-700.jpg

Newcastle Intermediaries is introducing a residential three-year fixed product at 1.99 per cent, up to 80 per cent LTV.

The fixed rate will run until 31 July 2019, and then Newcastle’s standard variable rate of 5.99 per cent for the rest of the term.

A statement from the broker arm of Newcastle Building Society says the product has a £199 reservation fee and the ability to add the £499 completion fee to the loan.

Newcastle Intermediaries head of mortgage distribution Steve Carruthers says: “Three year fixed rate mortgages have increased in popularity.

“They combine current competitive lending rates with the reassurance that mortgage payments will be fixed for the period.

“House buying or remortgaging used to involve a choice between a better rate, or the certainty of a fixed product. Being able to combine the benefits of both is good news for borrowers.”

Recommended

Richardson_Martin_Leeds-2013-700x450.jpg

Leeds loosens interest-only criteria

Leeds Building Society will now accept sale of property as a repayment method for certain interest-only borrowers. This repayment method is available to those on part and part interest-only mortgages up to 75 per cent LTV. Leeds director of business development Martin Richardson says: “We always try to be responsive to borrowers’ and brokers’ feedback […]

Bank-of-England-Building-BoE-Bus-700x450.jpg

Bank of England toughens bank stress tests

The Bank of England is increasing the capital buffer rate in its bank stress tests from zero to 0.5 per cent due to risks associated with domestic credit and global risks. The Financial Policy Committee announced in December it intended to set the UK countercyclical capital buffer rate in the region of 1 per cent […]

John Heron
1

Paragon tweaks criteria for limited company landlords

Paragon Mortgages is changing its lending criteria for limited company landlords following government tax relief tweaks. The buy-to-let mortgage provider is removing its exclusivity borrowing restriction for limited company landlords. The changes will let Paragon’s limited company landlords deal with other lenders. Paragon director of mortgages John Heron says: “We know from our latest research […]

Money-Notes-Currency-GBP-700.jpg

Virgin tweaks interest-only criteria

Virgin Money has revamped its interest-only criteria. In a note to brokers today, the lender said it had reduced its minimum income requirement from £100,000 to £50,000. This is based on total gross income, including 100 per cent of bonuses and overtime. It has also removed the requirement for the property to be worth £500,000 […]

A funny old year

The past 12 months have been turbulent – just take a look at this chart of the FTSE 100 over the last year. There have been some points which I’m sure would have caused your clients some concern, and possibly even had them looking for an alternative investment with reduced volatility; perhaps without reducing their […]

Newsletter

News and expert analysis straight to your inbox

Sign up