Newcastle BS launches new self-employed mortgage proposition

Newcastle for Intermediaries has announced reductions of up to 0.30% across its self-employed mortgage range, replacing its existing proposition with products designed specifically to support customers who have been trading for less than two years.

The revised range includes two-year fixed rate options up to 80% LTV for both house purchase and remortgage, and introduces a fee-assisted alternative to support borrowers with upfront costs.

There is no maximum age at the end of the term and terms are available up to 40 years. No previous industry experience as a self-employed individual is required, and affordability can be assessed using the latest year’s salary and net dividend information.

Francesco Di Pietro, head of intermediary mortgages at Newcastle Building Society, said: “Meeting the needs of clients who have only recently started trading is a big challenge for brokers. These rate reductions, together with supportive underwriting and a fee-assisted option, mean we can offer practical competitive choices to help more of those customers get a foot on the property ladder or refinance with confidence.”