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Skipton adds to exclusive LISA mortgage range

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  • 16/10/2018
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Skipton adds to exclusive LISA mortgage range
Skipton Building Society has expanded its range of exclusive mortgages for Lifetime ISA (LISA) customers.

 

From October 17, the lender will be offering three two-year mortgages and three five-year mortgages, offering £500 and £1,000 cashback respectively – on top of the £250 cashback given to all Skipton’s LISA customers that take a mortgage with the lender.

The exclusive deals are available from 85% and up to 95% loan to value (LTV).

As part of the range, the lender will offer a two-year fixed rate of 2.30% at 85% LTV and a five-year fix of 2.69% at 85% LTV.

The lender previously offered a 95% LTV mortgage exclusively to LISA customers.

The expansion of the range comes after the government last week rejected calls for the Lifetime ISA to be abolished.

Skipton has opened 120,000 of the cash accounts since it was launched in June 2017.

Kris Brewster, Skipton’s head of products (pictured), said: “We welcome the government’s commitment to the Lifetime ISA product.

“There is clear evidence that the Lifetime ISA helps to answer the needs of a new generation of savers, supporting property ownership and preparation for life ahead.

“Over 120,000 of our members are already using the product to boost their savings, with over nine out of ten looking to buy their first home.

“By widening the choice of loan to value on its LISA exclusive range, the society is further answering the needs of a new generation of savers by assisting them in getting a foot on the property ladder.”

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