Newcastle Intermediaries increases maximum age to 80

"Our maximum lending age uplift to 80 reflects demographic changes and the changing requirements of older customers with mortgage needs in retirement and later life."

The Newcastle has also extended distribution of its buy-to-let range to all of its key partners. The range was previously available only through TBMC and limited distribution channels.

The Society has also made changes to its buy-to-let lending criteria, increasing the maximum loan amount on individual properties to £500,000 and calculating rental stress on an interest only basis, regardless of repayment type.

In a further enhancement to servicing, applications for buy-to-let mortgages can now be made directly through the Newcastle Intermediaries website, offering brokers further flexibility, as users can take advantage of online facilities already available for residential mortgages. Benefits include online document upload, automated email case tracking and web chat.
 
Steve Carruthers, Head of Mortgage Distribution at Newcastle Intermediaries, commented: “As we continue to grow our buy-to-let offering, extending the distribution across all our key partners makes sense to help us build on the success we have had since it launched. Along with the positive changes to our lending policy, it reflects our commitment to the intermediary market and to providing more choice and flexibility for brokers to access our buy-to-let product range.
 
“Our maximum lending age uplift to 80 reflects demographic changes and the changing requirements of older customers with mortgage needs in retirement and later life.”