The two-year fixed rates start from 3.24% and will be available across all its key account distributors.
In addition, as part of a commitment to easing the mortgage application process for the recently self employed (classed as those who have been trading as self employed for less than two years), the lender will apply individual case assessment, and will request either one year’s accounts, or an SA3012 form - rather than both.
At the end of the term, should customers meet standard residential lending criteria, they will be able to take any product from the range.
Steve Carruthers, head of mortgage distribution at Newcastle Intermediaries, said:
“We appreciate it can be difficult to find a lender that truly understands the needs of self employed clients in the early stages of their self employment journey. At Newcastle Intermediaries we appreciate that one size doesn’t fit all and, looking at each self employed case individually, we will make common sense decisions.”
“The decline in availability of mortgage products specifically for the self employed market, and the changes brought about by MMR, have made it generally more challenging for anyone with non-standard earnings to get a competitive deal. In order to provide support to a growing group of early stage self employed individuals, we’ve reviewed our policy to make it easier for them to apply for a mortgage, and potentially access the competitive lending rates enjoyed by mass market mortgage clients.”
