The product is designed to support customers who would like to repay their government equity loan by remortgaging and is available on a 2-year fixed rate at 3.55% (4.0%APRC).
This product also includes £1,000 cashback to support borrowers with the costs incurred to repay the equity loan.
Alternatively, first-time buyers can apply for a 2-year fixed rate mortgage at 2.19% (3.7%APRC) or a 5-year fixed rate at 2.49% (3.5%APRC).
Both are available with £500 cashback and up to 75% LTV to a maximum of £450,000; regional caps apply.
Franco Di Pietro, head of intermediary mortgages at Newcastle Intermediaries, said: “We’re delighted to introduce new products to our Help to Buy range to support the strong demand we continue to see in this market.
“These products provide a competitive and flexible offering to support first-time buyers onto the property ladder alongside those with an existing Help to Buy mortgage now moving onto the next stage and looking to remortgage.
“Our remortgage product in particular is unique in the market as it includes no product fees, a free standard valuation and £1,000 cashback in order to meet the costs of repaying the government equity loan.”
All the products have no product fees to pay and come with free standard valuation. 10% overpayments per year can be made, in addition to the £499 regular monthly overpayments already permitted.
