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Skipton BS reintroduces 85 per cent LTV

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  • 09/06/2020
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Skipton BS reintroduces 85 per cent LTV
Skipton Building Society is bringing back lending at 85 per cent LTV and also reducing rates on select mortgages.

 

Mortgages for borrowers with a deposit of 15 per cent will be reinstated across the lender’s standard residential, new build and shared ownership range.

At the same time, rates across the Help to Buy and interest-only range have been cut, and new deals introduced across ranges.

It means the lender is now offering two-year fixes of 1.37 per cent at 60 per cent LTV fee-free, and 1.59 per cent at 85 per cent LTV with a £995 fee.

There are also five-year fixes of 1.35 per cent and 1.76 per cent at 60 per cent LTV with a £1,995 fee and 75 per cent LTV fee-free respectively.

Skipton recently announced it will accept cases from applicants who have been furloughed.

However, affordability will be assessed on the new, furloughed income, including any top up contributions made by the employer. The maximum LTV where any applicant is relying on furloughed income is 60 per cent.

Alex Beavis, head of mortgages at the lender (pictured), said: “We’re delighted to reintroduce lending at 85 per cent loan to value and reduce rates on many products giving borrowers more choice and better value.

“As a mutual, we strive to help people buy their own homes and through this difficult time we have maintained high levels of service to ensure our customers get the best experience when buying or remortgaging.

“Our reintroduction of 85 per cent LTV deals for new build, shared ownership and residential purchases and support for furloughed workers demonstrates this commitment.

“In order to help us continue to support our customers, I encourage anyone who needs to speak to us to make use of our online FAQ pages, webchat and email services in order to avoid longer telephone wait times in our contact centre.”

 

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