Newcastle revamps self employed mortgage range

Newcastle revamps self employed mortgage range

Newcastle Intermediaries has launched a revised range of self-employed mortgages.

The building society is offering fixed-rate products with free valuations on properties up to £500,000, available through all of its key account distributors.

An individual case assessment can be applied for with just one year of accounts or a self-assessment tax return SA302 form, but not both.

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Steve Carruthers, head of mortgage distribution at Newcastle Intermediaries, said: “We understand that it can still be difficult to find a lender that understands the needs of self-employed clients, especially those still in the early stages.

“This new range with lower rates further supports these individuals.”

Daniel Bailey, mortgage broker at Middleton Finance, thinks Newcastle’s revamping of its range is a positive move.

Mr Bailey said: “Free valuations can certainly help reduce the up-front costs when it comes to buying a house.

“It is positive for the self-employed market too. Many people think they need three years of finances when it comes to buying a house, but this clearly helps those who are new to self-employed life, as it reassures them they can still own a home with two years of work, not three.”