NEWCASTLE INTERMEDIARIES OFFERS FREE LEGALS FOR FIRST TIME BUYERS
Newcastle Intermediaries has responded to this week’s budget announcement with a range of 95% Loan to Value (LTV) products with free legal fees designed for first time buyers.
As stamp duty for purchases under £300,000 is abolished for new buyers, the lender has launched free legal products which also aim to make the home buying process even easier.
The new range is designed to take away upfront and often unexpected fees, as well as streamline the purchase process.
Borrowers can choose between a two year fixed rate deal at 4.25% (5.8% APR) or a five year fixed rate at 4.60% (5.6% APR). Both products include all standard legal costs*, including Land Registry fees, Land Registry Priority Search, Bankruptcy Searches, Property Searches (such as Local Authority, Water and Drainage Fees) and VAT.
The range is available with no reservation or completion fees and the lender will also appoint an approved Solicitor on the borrowers’ behalf to arrange completion of the purchase, taking away a stressful part of the process.
Steve Carruthers, Head of Mortgage Distribution at Newcastle Intermediaries said:
“We’re fully committed to helping first time buyers onto the property ladder and welcome the budget announcement this week, which will hopefully help even more people own their first home.
“These products, with the addition of inclusive legal fees, could be an ideal choice for first time buyers hoping to maximise their savings for their deposit by assisting with the upfront costs of buying a property.
“We understand that buying a home, especially a first home, is an exciting but daunting time and we hope to be able to make the experience much easier for borrowers.”
Newcastle Intermediaries has refreshed its entire mortgage range. You can see full product details and available rates at www.newcastleis.co.uk