L&C - How well do you know First Step?

How well do you know Newcastle for Intermediaries and our lending policy?

Take this short quiz to test your knowledge and discover how our policies can help more of your clients. Plus, by completing your submission you could win a £100 Amazon voucher!

The winner will be drawn on Friday 19 September 2025. Read full terms and conditions here.
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Question 1: What is the minimum deposit required for a First Step (up to 98% LTV) mortgage?*

£10,000£7,500£5,000

Not quite. First Step is designed to help first-time buyers with a minimum deposit of just £5,000.
That’s right! First Step allows first-time buyers to purchase a home with a deposit from just £5,000 – helping them buy sooner or keep more savings for moving and set-up costs.

Question 2: What is the minimum mortgage value for a First Step (up to 98% LTV) mortgage?*

£50,000£96,000£120,000

Question 3: For foreign nationals, we can consider applicants with how long remaining on their skilled worker visa?*

12 months3 months6 months

That’s right! We consider foreign nationals with only 3 months left on their skilled worker visa if they have been in the UK for at least 2 years. We refer any applications with over 80% LTV to our manual underwriters and will consider lending up to 95% LTV!
Not quite! We consider foreign nationals with only 3 months left on their skilled worker visa if they have been in the UK for at least 2 years. We refer any applications with over 80% LTV to our manual underwriters and will consider lending up to 95% LTV!

Question 4: What income would we consider for a self-employed applicant who has been trading for less than 24 months?*

Latest years' salary and share of net profit before taxLatest years' salary and net dividendEither

Correct! We can accept either the latest year’s salary and share of net profit before tax OR latest year’s salary and net dividend. We offer specific products up to 80% LTV to support newly self-employed clients with only one year’s full accounts!
Technically, yes! We can accept either the latest year's salary and share of net profit before tax OR the latest year's salary and net dividend. We offer specific products up to 80% LTV to support newly self-employed clients with only one year’s full accounts!

Question 5: To consider income for a day rate contract worker, how long do we require remaining on a contract?*

6 months3 months1 month

That’s right! To consider day rate income, we only require 1 month remaining on a contract and 12 months' experience in the chosen field.
Not quite! To consider day rate income, we only require 1 month remaining on a contract and 12 months' experience in the chosen field.

Question 6: What is the current maximum age at the end of term for our standard repayment mortgages?*

80 years old85 years oldNo maximum age

Correct! We recently removed the maximum age limit for standard repayment mortgages, offering greater flexibility for clients borrowing later in life.
Incorrect. The maximum age limit for standard repayment mortgages has been completely removed.