Newcastle Intermediaries has introduced Help to Buy and Buy to Let products for self-employed clients

28 March 2018

Newcastle intermediaries has extended its self employed product range designed to help clients who are newly self- employed to include both Help to Buy and Buy to Let.

The number of self-employed people continues to increase year on year, but many will face difficulty when applying for a mortgage until they have traded for at least 3 years. Newcastle Intermediaries has seen a positive uptake of its existing range of self-employed products designed to help those clients who have been trading for up to 2 years and have a full set of year one accounts.

The extension to include Help to Buy and Buy to Let provides additional options and more flexibility for self employed borrowers.

The Help to Buy additions feature two, two year fixed rate products at 75% LTV.

The fee assisted two year fixed rate product at 2.55% (5.4% APR) comes with free valuation, £500 cashback and 10% overpayments per annum with an early repayment charge of 2% until 31st May 2019 and 1% until 31st May 2020.

The second two year fixed rate is available at 2.05% (5.4% APR) with £800 completion fee, and £199 reservation fees payable up front. Overpayments of up to 10% per annum are permitted and an early repayment charge of 2% until 31st May 2019 and 1% until 31st May 2020.

The new Buy to Let range includes a two year fixed rate at 2.99% (5.5% APR) is available at a maximum LTV of 75% with no fees, free valuation, £500 cashback and 10% overpayments per annum permitted with an early repayment charge of 2% until 31st May 2019 and 1% until 31st May 2020.

Steve Carruthers, head of mortgage distribution at Newcastle Intermediaries, said: “Following on from the success of the launch of our self-employed product range and feedback from brokers outlining the growing need for support in this market, we’re delighted to expand into the Help to Buy and Buy to Let markets. These products will help a wide range of borrowers including first time and next time buyers.”

All product details and the full range of available products can be found at www.newcastleis.co.uk.