BuildLoan is happy to announce that Newcastle Building Society has increased its maximum final LTV to 85%, with the launch of two replacement products for self builders as detailed below:
Two Year Fixed Rate – 5.15% until 31/03/2021
Two Year Base Rate Tracker – 4.99% until 31/03/2021
These products come with the benefit of higher lending percentages on land and build costs – up to 85% and a maximum final LTV of 85%.
The products are available to customers undertaking a self build, custom build, renovation, conversion or home improvements in England, Wales and Scotland, on an arrears stage payment basis.
Clients can make up to 10% overpayments each year and enjoy interest only payments during their build, to keep costs low.
Rachael Pyne, Client Services Director comments “We’re delighted that Newcastle is offering higher borrowing during the build period which will enable more self builders to achieve their homebuilding dreams.”
Newcastle Building Society was recently recognised as the ‘Best Self Build Lender’ for it’s long-term support of the market at the 2018 Build It Awards.