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Skipton bolsters intermediary management team

  • 27/06/2017
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Skipton bolsters intermediary management team
Skipton Building Society has appointed ex-broker Tracey Nash to its team of intermediary managers to develop broker business in the London area.

Nash joined the society in March 2017. Prior to this Tracey worked as a broker within the mortgage arm of a Kent-based IFA firm.

Tracey has almost 20 years’ experience in the financial sector, during which she advised customers, trained her team and managed a regulated sales force.

Her very last role was as a private banking relationship manager for a portfolio of high net worth clients.

Nash said: “I am delighted to be joining Skipton Intermediaries. Brokers play a vital part at Skipton Building Society with 95% of lending coming through the intermediary channel. I am very much looking forward to starting my journey with Skipton and playing my part in its continued success.”

Two weeks ago, Skipton updated its interest-only mortgage range for borrowers with £400,000 equity in their property or for borrowers with minimum pension pots of the same value.

The changes allow borrowers to use the sale of their home as the exit strategy on the condition that there is £400,000 of equity remaining after a mortgage has been secured on the property.

Sale of property will only be permitted to cover the mortgage up to 50% loan-to-value (LTV) but a combination of vehicles can be used if the mortgage exceeds that limit up to a maximum of 70% LTV.

If the mortgage is part capital repayment and part interest only, the LTV can be extended to 80%.

Paul Darwin, Skipton’s director of intermediary relationships, said the changes to the interest-only policy were “appropriate and responsible”.

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