Newcastle for Intermediaries has made enhancements to its interest-only mortgage proposition.

The lender has increased the maximum loan-to-value (LTV) from 75% to 80% and 85% LTV for part-and-part loans.

In addition, the lender has added further flexibility for repayment options with multiple repayment strategies available to support the repayment of the mortgage.

Clients downsizing via the sale of an existing mortgaged property remain capped at 60% interest-only LTV, in line with existing policy.

Newcastle Building Society head of commercial and product development Ben Smith says: “We know that brokers and their clients value choice and simplicity, so by extending our Interest-Only LTV to 80% and accommodating multiple repayment vehicles as standard, we’re making it easier for brokers to find the right solution for those looking to move home and remortgage.”

Earlier this month, Newcastle for Intermediaries launched Enhanced+ to provide increased loan-to-income multiples of up to six times, policy enhancements and bespoke underwriting.