Borrowers will be able to staircase in increments of £5,000 or more, and borrowers can staircase to 100 per cent ownership at 95 per cent loan to value (LTV).

The mutual has also extended the shared ownership range up to 95 per cent LTV for remortgage and additional borrowing applications. It was previously 90 per cent LTV.

It will allow remortgages of up to 95 per cent LTV where the customer is staircasing to 100 per cent ownership. This was also previously 90 per cent LTV.

Skipton BS will lend up to 90 per cent LTV if there are incentives of five per cent or more on new-build shared ownership houses and flats. It was previously between 85 and 90 per cent LTV.

The mutual has also lowered the minimum additional borrowing among to £5,000, down from £10,000, where there is an element of staircasing.

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John Scrivens (pictured), Skipton BS’ regional manager, said: “At Skipton Building Society for Intermediaries we look for ways to help more people own homes of their own, so we’re pleased to announce these fantastic changes to our shared ownership criteria.”