Newcastle Intermediaries is offering a 95% LTV mortgage with £1,000 cashback, available to first time buyers, home movers, remortgagors and Help to Buy customers.
Provided they have enough equity in their home, Help to Buy customers customers can add the equity loan to their current mortgage balance at 95% LTV and take advantage of £1,000 cashback with Newcastle Intermediaries. The increased cashback could help towards remortgage legal costs and any redemption fees on the equity loan payable to the government.
The £1,000 cash back, two year fix at 4.09% (5.8% APR) has a maximum LTV of 95%, free valuation, no arrangement fees and 10% overpayments per annum, with an early repayment charge of 2% until 31/07/2019 and 1% until 31/07/2020.
Steve Carruthers, head of mortgage distribution at Newcastle Intermediaries, said: “We’re always looking at improvements to our mortgage products that keep pace with the changing needs of first time buyers, remortgage customers, and Help to Buy purchasers.
“We want to give borrowers the option of a mortgage available at 95% LTV with no fees to pay and the bonus of increased cashback to help with the costs associated with buying their own home. We’re hoping that positive take up on this product will encourage roll out of an increased cashback facility over a wider range of our LTV products.”