Newcastle increases buy-to-let overpayment allowance

Ryan Bembridge

April 6, 2017

Newcastle Intermediaries will now allow buy-to-let landlords to overpay their mortgages by up to 10% per year without penalty.

They can also make overpayments of up to £499 per month – meaning in essence they can overpay by more than 10% of the mortgage balance in total.

They can overpay the 10% in one go or in stages.

Ben Smith, product development and propositions manager at Newcastle Intermediaries, said: “As we continue to grow our buy-to-let offering, the introduction of additional overpayments reflects our commitment to the market and to providing more choice and flexibility for intermediaries to access our buy to let product range.”

Newcastle has no buy-to-let maximum age limit while 5-year fixed products stressed at 145% at 4%.

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