Mortgage Engineering launched a limited company to buy products, while Newcastle’s intermediaries refreshed its interest-only product transfer process.
Mortgage Engineering, the National Construction Association’s landlord loan division, will add free legal options for BTL for the limited liability BTL in the two- and five-year fixed-rate cash loans tomorrow.
Additionally, its homes within multiple occupational scopes will now include two- and five-year fixed-rate products, including £1,495, with no fee option.
New free legal products include:
- Limited Company BTL two years fixed 3.99%, up to 75% loans, at 3% fee (cash only) – Standard attorney with free valuation and free free
- Limited Company BTL has a five-year fixed rate of 4.57%, up to 75% LTV, 3% fee (repayment only) – Standard law with free valuation and free
New homes in multiple occupational products include:
- Multiple occupations limited company houses have a two-year term of 5.34% up to 75% LTV, and costs £1,495
- Limited company with multiple occupations has a five-year fixed term of 5.39% up to 75% LTV, and costs £1,495
Joe Avarne, senior manager of mortgage staff, said: “These latest changes expand our product range and provide landlords with further options for the growing limited company BTL market and bring mortgage efforts to landlords looking to cash in on new lenders.”
Meanwhile, Newcastle’s intermediaries refreshed its existing customers near expiration for their interest-only product transfer options, with the cut rate starting at 3.99%.
The department is part of the Newcastle Architecture Association, which is designed “to make it easier for brokers to retain interested clients with competitive pricing and a fast online transfer process”.
It added that existing customers can ensure exclusive transfer rates, new tax rates up to three months before mortgages reach maturity and apply entirely online through lenders’ product transfer tools.
Franco di Pietro, head of agency mortgage at Newcastle Architecture Association, said: “By expanding support for existing interested clients, our goal is to provide brokers with a practical, attractive option to keep these clients on books, truly amass, a fast online transfer process and the ability to ensure a speed of reaching pass rates ahead of time.
“This brings greater certainty to clients and provides an easier process for brokers.”
