Newcastle slashes buy-to-let and self-employed rates

Ryan Bembridge

November 21, 2017

Newcastle Intermediaries has reduced buy-to-let and self-employed mortgage rates.

Buy-to-let remortgage products at 75% loan-to-value stand at 2.85% for two years and 3.35% for five years with no reservation or completion fees, free standard valuation and legal fees.

Newcastle stress tests against a rate of 5.5% under five years and at 4% above, both with rental coverage ratio of 145%.

Self-employed borrowers who have been trading for two years can now access a rate of 1.90% to 60% loan-to-value with an £999 in fees

Steve Carruthers, head of mortgage distribution at Newcastle Intermediaries, said: “We have reassessed rates across our range to offer even better flexibility and support, especially to our self-employed borrowers.

“Additionally, our free valuation feature and low fee alternatives are ideal for those in the remortgage market.”

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