Newcastle Intermediaries has expanded the availability of and removed the reservation fees for its self- and custom-build mortgage products.
For its loans available through BuildLoan, its self-build arrears stage payment product comes as a two-year variable oat 5.89% with no fees and the mortgage indemnity guarantee paid by the lender.
Overpayments of 10% per annum are also accepted. Early repayment charges (ERCs) come in at 1% until the end of March 2024.
And for self- or custom-build, the lender is offering a two-year variable product at 5.99% for arrears and advanced stage payments. This also charges no product fee and comes with no ERCs.
Newcastle head of intermediary Franco Di Pietro comments: “Offering flexibility around self and custom-build mortgages is an important area of lending which is traditionally underserved by the market.
“That’s why we’re looking keenly at what we can do to support brokers and their clients, and we’ve made those products even more accessible by removing reservation fees and extending the availability of the range.”