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Competitive Range of Buy to Let Products from Newcastle

05 June 2017

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The Society is launching the following range of BTL products with effect from today, Monday 05 June 2017. 

 In addition to the revised products outlined below and to support your BTL applicants further they have also made a positive change to some of their Buy to Let criteria. 

With immediate effect they have reduced the minimum requirement for joint income on BTL properties to £30,000 from £40,000. This change is effective immediately and applies to any BTL applications going forward. 

An outline of the BTL products launching are as follows: 

  • 2 Year Fixed Rate 2.19% until 31st October 2019, £199 Reservation Fee (payable upfront), £800 Completion Fee, 10% overpayments, Max LTV 75%, Minimum Loan £50,000, Maximum Loan £500,000 and 2%/1% early repayment charge until 31st October 2019.
  • 2 Year Fixed Rate (Re-mortgage exclusive) 2.85% until 31st October 2019, No Reservation Fee, No Completion Fee, Free Standard Valuation up to £500,000, Free Standard Legals, 10% overpayments, Max LTV 75%, Minimum Loan £50,000, Maximum Loan £500,000 and 2%/1% early repayment charge until 31st October 2019.
  • 3 Year Fixed Rate 2.55% until 31st October2020, £199 Reservation Fee (payable upfront), £800 Completion Fee, 10% overpayments, Max LTV 75%, Minimum Loan £50,000, Maximum Loan £500,000, 3%/2%/1% early repayment charge until 31st October 2020.
  • 5 Year Fixed Rate 2.89% until 31st October 2022, £199 Reservation Fee (payable upfront), £800 Completion Fee, 10% overpayments, Max LTV 75% (inclusive of any fees added to the loan), Minimum Loan £50,000, Maximum Loan £500,000, 5%/4%/3%/2%/1% early repayment charge until 31st October 2022.
  • 5 Year Fixed Rate 3.19% (Fee Assisted) until 31st October 2022, No Reservation Fee, No Completion Fee, Free Standard Valuation up to £500,000, £200 cashback, 10% overpayments, Max LTV 75%, Minimum Loan £50,000, Maximum Loan £500,000, 5%/4%/3%/2%/1% early repayment charge until 31st October 2022. 

The current range will therefore be withdrawn from close of play Monday however any existing applications will be honoured until close of play Wednesday 07 June.


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