What is Affordability Boost?
We understand that affordability can be a key challenge for many people. That’s why we have a range of products to help your clients looking for a longer-term fixed-rate mortgage.
Our Affordability Boost range offers a different affordability assessment for fixed-rate mortgages of longer than 69 months. This means your client may be able to borrow more, depending on their financial situation. This assessment is only available on Affordability Boost products with a minimum term of 69 months.
What does this look like?
For example, a couple with one child, a combined income of £75,000 and monthly credit commitments of £650, could typically borrow up to £305,000. This is with a standard fixed-rate product when borrowing 85% of their home’s value. However, with an Affordability Boost mortgage, they might be able to borrow up to £375,000 dependent on their financial circumstances.
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With a standard fixed-rate product they could borrow up to:
0
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With an Affordability Boost product, they could borrow:
0
Actual borrowing depends on individual circumstances, lending criteria and product availability.
Is Affordability Boost right for your client?
Our Affordability Boost range may be suitable if they want:
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A fixed-rate mortgage for over 69 months
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To borrow more towards their first home, current home, or next home
Our Affordability Boost range may not be suitable if they want:
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A short-term or more flexible mortgage
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To make changes within the next 69 months
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To use an affordable home ownership scheme such as Shared Ownership
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To apply but have been self-employed for less than two years
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A Buy-to-Let mortgage
What are the key features?
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Available only on selected Affordability Boost fixed-rate mortgages of more than 69 months
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Available up to 95% LTV
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Available to first-time buyers, home movers, those looking to remortgage and existing mortgage customers who don’t want to borrow more
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10% overpayment per year as well as an additional £499.99 monthly overpayment allowed
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Up to 40-year term
FAQs
Who is eligible for Affordability Boost products?
Affordability Boost products are available for clients who are already seeking a fixed-rate mortgage and meet our standard criteria policy, subject to assessment. This includes first-time buyers, home movers, remortgagers, and existing mortgage customers who are looking for a fixed-rate mortgage of more than 69 months. If you have any questions about eligibility, please reach out to your dedicated BDM.
What type of properties are eligible?
Affordability Boost products can be used for both standard and new build homes and flats. Please refer to our residential criteria for specific Loan-to-Value (LTV) limits.
Does your affordability calculator show these products?
To see the impact of the Affordability Boost products in our affordability calculator, choose "Yes" for the question, "Will the initial fixed term be more than 69 months".
Showing all of our products
- Interest rate (low to high)
- Interest rate (high to low)
- Product name (a - z)
- Product name (z - a)
- Max LTV (low to high)
- Max LTV (high to low)
Mortgage type
Max LTV
Deal term
Rate type
Fees
| Code |
AFBS110 |
|---|---|
| Name | 6 Year Fixed Rate - Affordability Boost Mortgage |
| Rate | 5.80% |
| Max LTV | 80% |
| Fees | £0 |
| SVR | 6.31% |
| APRC | 6.2% |
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|
| Code |
AFBS111 |
|---|---|
| Name | 6 Year Fixed Rate - Affordability Boost Mortgage |
| Rate | 5.95% |
| Max LTV | 90% |
| Fees | £0 |
| SVR | 6.31% |
| APRC | 6.3% |
|
|
| Code |
AFBS112 |
|---|---|
| Name | 6 Year Fixed Rate - Affordability Boost Mortgage |
| Rate | 6.10% |
| Max LTV | 95% |
| Fees | £0 |
| SVR | 6.31% |
| APRC | 6.4% |
|
|
| Code |
JMAB013 |
|---|---|
| Name | 6 Year Fixed Rate - Joint Mortgage Sole Proprietor Affordability Boost |
| Rate | 5.90% |
| Max LTV | 80% |
| Fees | £0 |
| SVR | 6.31% |
| APRC | 6.3% |
|
|
| Code |
JMAB014 |
|---|---|
| Name | 6 Year Fixed Rate - Joint Mortgage Sole Proprietor Affordability Boost |
| Rate | 6.05% |
| Max LTV | 90% |
| Fees | £0 |
| SVR | 6.31% |
| APRC | 6.4% |
|
|
| Code |
JMAB015 |
|---|---|
| Name | 6 Year Fixed Rate - Joint Mortgage Sole Proprietor Affordability Boost |
| Rate | 6.20% |
| Max LTV | 95% |
| Fees | £0 |
| SVR | 6.31% |
| APRC | 6.4% |
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| Product | Rate | Max LTV | Fees | SVR | APRC | Product links |
|---|---|---|---|---|---|---|
|
AFBS110 6 Year Fixed Rate - Affordability Boost Mortgage
|
5.80% | 80% | £0 | 6.31% | 6.2% | Full product details Log in to apply |
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AFBS111 6 Year Fixed Rate - Affordability Boost Mortgage
|
5.95% | 90% | £0 | 6.31% | 6.3% | Full product details Log in to apply |
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AFBS112 6 Year Fixed Rate - Affordability Boost Mortgage
|
6.10% | 95% | £0 | 6.31% | 6.4% | Full product details Log in to apply |
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JMAB013 6 Year Fixed Rate - Joint Mortgage Sole Proprietor Affordability Boost
|
5.90% | 80% | £0 | 6.31% | 6.3% | Full product details Log in to apply |
|
JMAB014 6 Year Fixed Rate - Joint Mortgage Sole Proprietor Affordability Boost
|
6.05% | 90% | £0 | 6.31% | 6.4% | Full product details Log in to apply |
|
JMAB015 6 Year Fixed Rate - Joint Mortgage Sole Proprietor Affordability Boost
|
6.20% | 95% | £0 | 6.31% | 6.4% | Full product details Log in to apply |
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Here to support you
Available across the UK, your dedicated Business Development Manager (BDM) is ready to give expert advice on your product, criteria, or application questions.
Intermediary Support Team
For enquiries, live case support, or document submissions, our Intermediary Support Team is available from 9am to 5pm, Monday to Friday. You can contact them by:
- Phone: 0345 602 2338
- Email: intermediary.lending@newcastle.co.uk