80% LTV remortgage revealed by Newcastle Intermediaries.
Newcastle Intermediaries has introduced a new range of 80% LTV, fixed term remortgages for home movers.
The details are:
- 2 year mortgage rate of 2.05% fixed until August 31st 2019
- 3 year mortgage rate of 1.85% fixed until August 31st 2020
- 10 year mortgage rate of 3.29% fixed until August 31st 2027
All of the mortgages have a free standard valuation included and a £200 cashback incentive.
What is interesting about this lender’s residential range is that borrowers have the option of overpaying by up to 10% of their outstanding balance every year without incurring a penalty fee. The option of overpaying is important because, if you are able to do it, you are reducing how much interest you pay back to the lender over the full term of your loan.
However, if you are looking for a new deal, you may find it a challenge for your application to be accepted as the lending ‘goalposts’ may well have moved since your original loan was approved. Lending criteria is subject to continual review and tightening as underwriters seek to reduce risk as much as possible. Therefore, even though your circumstances may not have changed, what was accepted before may not be accepted now.
Seeking the advice of one of our highly qualified Deal Direct advisers can greatly increase your chances of success when it comes to:
- sourcing the right remortgage deal
- having your application accepted
Don’t underestimate the value of having the right remortgage broker help you with your home loan search.
Contact an adviser now on 0800 048 8828.
