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