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Skipton offers mainstream loans to new-build borrowers up to 80% LTV

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  • 28/07/2015
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Skipton offers mainstream loans to new-build borrowers up to 80% LTV
Skipton Building Society has launched a revised new-build product range after feedback from brokers, which includes standard loans for new-build clients up to an 80% loan-to-value (LTV).

The rest of the range offers two-year fixed rate products at LTVs from 75% to 90% with free valuations, cashback options at each LTV and fee free and £995 product options at 85% and 90% LTV.

Skipton no longer requires new-build customers to take a new build specific product at LTVs up to 80%. The mutual said customers can now choose any purchase product from the residential range including exclusive or new-build products – widening the choice of products available to new-build customers.

All new-build business, regardless of product selection, will get an upfront valuation and be dealt with by the new build underwriting team with its helpline.

Kris Brewster, Skipton’s head of products, (pictured) said: “All Skipton’s residential new-build applications are now given a free valuation, instructed as soon as we receive the fully packaged case. We believe this will increase our speed of service and further demonstrates our commitment to meeting the real life lending needs of our customers.”

James Chidgey, new homes relationship manager at Mortgage Advice Bureau, said: “The Skipton is one of the more progressive lenders in new build in both product and criteria, and we welcome them widening their product circle for brokers in this sector. The free valuation instructed on application and cash back options combined with market leading loan to values, will open opportunities for specialist brokers.”

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