News
Skipton BS expands 95 per cent LTV range and cuts rates
Skipton Building Society is expanding the availability of its 95 per cent loan to value (LTV) mortgages, adding new products and cutting rates as part of an overhaul of its range.
The lender is opening its highest LTV mortgages to home movers after initially introducing the deals only for first-time buyers.
And it is introducing a two-year fixed rate option at 3.95 per cent with no fee, while cutting the rate on its five-year mortgage launched last month to 4.09 per cent from 4.17 per cent.
The mutual has also made changes to products elsewhere across its residential range.
This includes a two-year fix at 60 per cent LTV with a £995 fee at 1.13 per cent, a five-year version at 1.37 per cent, and a 90 per cent LTV five-year fix with £0 fee at 3.55 per cent.
Mind the affordability gap
Sponsored by Newcastle for Intermediaries
Skipton Building Society head of mortgages Alex Beavis said: “We’re delighted to offer rate reductions across our refreshed residential purchase mortgage range.
“We’re also pleased to offer our 95 per cent LTV mortgages to both first time buyers and those wanting to move home.”
He added that the lender was currently averaging just over 10 days from application to offer, based on an average rolling 30-day figure and encouraged brokers to be submitting fully packaged purchase applications to help maintain service levels.