Skipton Building Society will accept applications of up to 95% loan to value for new build flats, in a change to its criteria policy aimed at helping first-time buyers.
The mutual adds it will cut residential and landlord fixed rates across its existing customer range.
Skipton Building Society national account, Jonathan Evans, who recently added new build lead, to his role, says: “I’m really pleased to announce that I am going to be focussing on all things new build here at Skipton.
“We are constantly looking to make things easier for our brokers and their clients, from aiming to underwrite applications within 48 hours to our enhanced approach to incentives.
“At Skipton, we understand the challenges in the new build market and the deposit hurdles facing prospective homeowners.”
Also, the building society says it will reduce rates across 16 existing residential and existing buy-to-let products, from tomorrow (12 December).
The most competitive rate is a five-year residential fix at 60% LTV, with a £1295 fee, reintroduced at 4.65%.
BTL reductions include:
- Five-year BTL fixes at 75% LTV, down by 17 basis points to 5.24%
- Two-year BTL fixes at 75% LTV, down by 17bps to 5.99%
Skipton head of mortgage products & propositions Jennifer Lloyd adds: “As part of the reprice, we’re also reducing the rates on our recent mortgage support products and we will continue to look at even more ways to keep making membership matter to all of our customers.”
