You are here: Home - News -

Skipton BS issues stamp duty deadline service warning

by:
  • 12/02/2021
  • 0
Skipton BS issues stamp duty deadline service warning
The looming stamp duty deadline could affect service levels in the coming weeks, Skipton Intermediaries has warned brokers.

 

The temporary tax cut ends at the end of March and there is expected to be a rush “to the finish line” as buyers try to complete their mortgage in time to pocket the saving, the lender said.

As a result, Skipton is going to prioritise completions, which means that new business cases may take longer than usual.

Advisers have been ask to use the eMortgage system for case updates, as phone lines and web chat are going to be “really busy” at this critical time.

The lender is accepting local search indemnity insurance.

Skipton thanked brokers in advance for their support.

A number of lenders have been warning brokers since November over the time needed to complete mortgages in time for the stamp duty deadline.

High levels of purchase activity have led to delays in the mortgage process, particularly among legal work and local searches.

Some lenders have relaxed their rules around accepting local authority indemnity insurance, as a result.

 

There are 0 Comment(s)

You may also be interested in

Read previous post:
TSLE: LendInvest eyes short-term and holiday let mortgage launch

LendInvest is expecting to launch products for the short-term let and holiday let markets, the lender told The Specialist Lending...

Close