Newcastle Intermediaries is extending its new build offer validity period from six to nine months.
In addition, it is refreshing its Help to Buy product range available for new purchase and remortgage cases (including staircasing).
The lender is refreshing its full Help to Buy Equity range including a two-year fixed rate of 2.45% (5.1%APR) available at a maximum LTV of 60% and a five-year fix at 2.80% (4.7%APR) at 75% LTV.
Both products include free standard valuation, 10% overpayments per annum and £500 cashback.
For clients looking to remortgage whilst repaying parts of their equity loan by adding this to their mortgage, Newcastle Intermediaries has revised products for those wishing to staircase up to 95% LTV. A rate of 3.29% at 90% LTV is available (5.3%APR) on a two-year fix. It comes with a free valuation, 10% overpayments per annum and an increased cashback facility of £1,000 to help with the cost of repaying their equity loan.
Alternatively, if customers want to repay their equity loan in full, the lender also has a range of residential mortgages which borrowers can switch to.
Stuart Miller, customer director of Newcastle Intermediaries, said: “We’re one of the few lenders who offer a variety of options for Help to Buy clients, whether that’s a straight forward purchase or re-mortgage, or increasing capital to cover the cost of the equity loan. The increased cashback facility will also help borrowers pay for some of the administration costs of re-paying part or all of the equity loan, such as an independent valuation.
“By also increasing the validity period for new build homes by a further three months, borrowers don’t need to worry if their new home takes slightly longer to complete.”
