MortgagesJul 28 2016

Skipton cuts rates on Help to Buy products

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Skipton cuts rates on Help to Buy products

Skipton Building Society has cut rates by up to 0.2 per cent on Help to Buy products.

From today (28 July), the building society’s Help to Buy purchase range includes a fee-free two-year fixed rate at 2.31 per cent, up to 70 per cent loan-to-value, with free upfront valuation and £500 cashback.

The range also includes five-year fixes at 2.39 per cent, up to 60 per cent LTV, with a £995 fee and free valuation, alongside a fee-free 2.75 per cent deal available at up to 60 per cent LTV and a 2.89 per cent product at up to 70 per cent LTV, with free valuation and £500 cashback.

The society has also introduced two new Help to Buy remortgage three-year fixes at 2.83 per cent, up to 70 per cent LTV and a 2.85 per cent at up to 75 per cent LTV, both with free valuations and £500 cashback.

Skipton has extended the end dates on all Help to Buy and New Build products to 31 January 2017.

Kris Brewster, head of products at Skipton BS, said: “We believe our new build residential products offer very attractive rates and will help first-time buyers and those looking to move up the housing ladder to realise their dream of moving into a new property.

“All new build applications to Skipton are given a priority underwrite within its specialist underwriting team.”

Skipton has also replaced the free legal incentive on Help to Buy remortgage products with £500 cashback.

Adviser Verdict

Daniel Bailey, a mortgage broker with Derbyshire-based Middleton Finance, said Skipton offers some great niche products.

He said: “Not many lenders offer a 90 per cent mortgage on new build properties and they are in that market, so I have done a bit of lending with them on that basis.”

damian.fantato@ft.com