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!