This site uses cookies. For more information, please see our Privacy and Cookie Notice. If you dont agree to our use of cookies, please navigate away from this site now.
JUNE 24, 2019 | BY A & S Property

Newcastle Intermediaries extends buy-to-let products to Scotland


Newcastle Intermediaries is now offering its buy-to-let mortgage range to borrowers in Scotland.

It comes over three years after the firm, which is the intermediary arm of the Newcastle Building Society, entered the buy-to-let market in England and Wales.

The range is available with both two and five year fixed rates, with products starting at 2.25% available at up to 75% loan-to-value (LTV).

The lender’s Interest Coverage Ratio on their five year rate products is assessed to 145%, at 4%, with assessment of rental cover calculated on an interest-only basis.

The lender’s products are offered at a maximum loan value of £500,000, no maximum age at the end of the term, and all the cases are individually underwritten.

Stuart Miller, customer director at Newcastle Intermediaries, commented: “We are pleased to be extending into Scotland after serving England and Wales for more than three years.

“As we already lend there on a residential, self-build and a custom build basis, it made sense to extend the offering of our BTL proposition into Scotland.”

Article courtesy of Landlord Today | Sign up for Landlord Today newsletter | Get this news on YOUR site!