Skipton’s new range allows new build customers access to residential core range products or any applicable residential exclusive up to 85 per cent LTV.
However the building society is also pulling the plug on all existing new build products at 75 per cent, 80 per cent and 85 per cent LTV.
The launch includes rate cuts of up to 0.2 per cent to existing Help to Buy purchase and remortgage rates and the addition of 70 per cent LTV products to the existing Help to Buy remortgage range.
The range is offered with a mix of fee free and low fee products.
New products with £995 fees are designed to offer a lower initial rate for customers who would rather lower monthly payments than the benefits of a fee free product.
All New Build business, regardless of product selection, will continue to receive an upfront valuation, while the Help to Buy range offers free valuation, plus £500 cashback on selected products.
Kris Brewster, Skipton’s head of products, said: “We believe our New Build residential products offer attractive rates and will help both first time and second time buyers who are looking to move up the housing ladder.
“All Skipton’s residential New Build applications are now given a free valuation, instructed as soon as we receive the fully packaged case.
“We believe this will increase our speed of service and further demonstrates our commitment to meeting the real life lending needs of our customers. These latest product offerings will see us continue to live out these principles and make home ownership an affordable reality for even more of our members.
“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.”
lucinda.borrell@ft.com
