Newcastle raises maximum new build LTV to 95%

Newcastle for Intermediaries has increased the maximum LTV for new build houses to 95%.

The change means new build buyers can now secure a Newcastle Building Society mortgage with a 5% deposit. 

Included as part of the new proposition is a 5.48% five-year fixed rate at 95% LTV, available with no product fees and a free standard valuation.

The 95% LTV products are available for both house purchase and remortgage and offer up to 10% overpayments. 

Franco Di Pietro, head of intermediary mortgages at Newcastle Building Society, said: “We understand that achieving the dream of homeownership remains a challenge, that’s why we’re committed to supporting as many borrowers as possible in getting a foot on the property ladder or moving onwards to their next home. 

"By increasing our maximum LTV for lending on new build houses, we’re able to provide our broker partners with a greater number of options and more flexibility for their clients.”