Newcastle Intermediaries updates self and custom-build range

Jessica Bird

November 24, 2021

self build

Newcastle Intermediaries has updated its self and custom-build proposition, extending the availability of the range and removing reservation fees.

Available through BuildLoan, the lender’s self and custom-build range features 2- year variable rates up to 85% loan-to-value (LTV).

A self-build, arrears stage payments product is available on a 2-year variable rate of 5.89% (APRC 4.4%); no product fees apply and the mortgage indemnity guarantee fee is paid by the lender.

This product also allows 10% overpayments per annum to support borrowers who require the flexibility to make lump sum overpayments.

Early repayment charges (ERCs) of 1% apply until 31 March 2024.

Available as both a self and custom-build mortgage, a 2-year variable rate of 5.99% (APRC 4.4%) is available offering both arrears and advanced stage payments.

The product is available with zero product fees and no ERCs.

Franco Di Pietro, head of intermediary mortgages at Newcastle Building Society, said: “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.”

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