Newcastle Building Society launches Help to Buy range
A new range of Help to Buy mortgages has been launched by Newcastle Building Society – with one deal aimed at existing borrowers under the scheme who want to switch to a new deal.
The range includes two and five-year new build mortgages on the Help to Buy Equity Loan and Help to Buy London schemes, with a free valuation and £300 cashback included, plus overpayments allowed each year up to 10% of the mortgage amount.
The building society’s remortgage product, fixed for three years at 2.35% comes with no mortgage arrangement or legal fees and is available up to a maximum of 75% of the property’s value. It’s targeted at existing Help to Buy borrowers whose current deal period is coming to an end.
Wayne Curry, managing director of new build firm Safeguard Financial Services, said: “It’s great to see Newcastle Intermediaries supporting home buyers in the North East and beyond, through the ever popular new build Help to Buy scheme. Newcastle Intermediaries is also offering Help to Buy remortgage products, giving customers even more choice in the market place.”
The mutual is initially making the mortgages available to borrowers who go through a limited selection of mortgage advisers.