In This Article
Who are Newcastle Building Society?
Newcastle Building Society is a UK building society, based in Newcastle upon Tyne. They are the largest building society in the North East and one of the largest building societies in the United Kingdom.
Although Newcastle Building Society are a regional building society, they offer a range of mortgages across the UK to suit the needs of their customers, including fixed rate, tracker and offset deals.
While the building society offers a range of mortgage products direct through its own network, they recognise that some people prefer to deal with mortgage advisors and have designed their business to support this by creating an intermediary-only lending arm called Newcastle Intermediaries.
Newcastle Intermediaries
Newcastle Intermediaries has a wealth of experience in intermediary lending. Its aim is to support the mortgage intermediary market by providing competitive products and excellent customer service.
The intermediary-lender supports a range of borrowers, including first-time and next-time buyers, landlords, customers looking for a better remortgage deal, those lending into retirement, or those requiring family support.
At Newcastle Intermediaries, they try to provide great products that are underpinned by a flexible, common-sense approach to lending.
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What do Newcastle Building Society specialise in?
Newcastle Building Society offer a variety of mortgages with flexible criteria. Some of the mortgage products have no fees, no early repayment charges, and come with added incentives, such as a free valuation.
Here are some of the areas they cover:
- First time buyer mortgages
- Higher loan to value lending for mortgages and remortgages
- Later life lending & lending into retirement
- Foreign national mortgages
- Large loans
- Mortgages for newly self-employed individuals
- New Build mortgages
- Self-Build/Custom Build
- Joint Mortgage Sole Proprietor
- Buy to Let mortgages
- Interest only mortgages, where affordability is calculated on an Interest Only basis
Are Newcastle Building Society rates competitive?
Newcastle Building Society aims to offer competitive mortgages in a fiercely competitive market.
With any mortgage, it’s important to compare interest rates, fees and the quality of the lender’s service before making a decision to go with a lender.
Therefore, if you are considering a mortgage with them, speak to a mortgage advisor who can help you compare all of your available options.
You are able to access mortgages via Newcastle Building Society directly or via a mortgage broker via their intermediary-only arm Newcastle Intermediaries.
Can I switch my rate with Newcastle Building Society?
If you wish to change your mortgage rate with Newcastle Building Society, you should speak to them directly as they do offer an online product transfer process, or you can contact a mortgage advisor which can arrange this for you.
You should always investigate if you can remortgage to a more competitive rate with another lender.
An independent mortgage advisor can advise you on all of the products available in the market and find the best option for you, which may not be staying with your current lender.
Newcastle Building Society mortgage process
If you would like to apply for a Newcastle Building Society mortgage directly you can firstly use a mortgage calculator to work out how much you could borrow and work out your monthly repayments. You can then apply for a mortgage online.
Alternatively, you can speak to an expert mortgage advisor who can manage this process for you.
Overall, the average time from application to offer is normally around four weeks. However, this duration may be extended for more complicated deals.
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What to do if you have been declined by Newcastle Building Society?
If you’ve been declined a mortgage from Newcastle Building Society, a mortgage advisor could help you find another lender willing to give you a mortgage.
If you have been declined due to bad credit, you should initially review your credit profile. You can utilise Experian, Equifax or Check My File, which offers a free trial.
An experienced mortgage advisor may be able to help you find a lender, regardless of your financial situation. You can arrange to speak to an expert, experienced mortgage advisor by completing the contact box below.
Conclusion
Newcastle Building Society offers a wide range of mortgage products with flexible criteria. Some mortgage products have no fees, no early repayment charges and come with added incentives, such as a free valuation.
You can access Newcastle Building Society’s mortgages via their website or through a mortgage broker should you wish to change your mortgage rate with Newcastle Building Society; you should speak to them directly, as they offer an online product transfer process.
You should always investigate if you can remortgage to a more competitive rate with another lender. An independent mortgage advisor can advise you on all the products available in the market and find the best option for you, which may not be staying with your current lender.
The average time from application to offer is usually around four weeks. However, this duration may be extended for more complicated deals.
If you’ve been declined a mortgage from Newcastle Building Society, a mortgage advisor could still help you.
They are experienced, which can boost your chances of being approved.
