Skipton cuts rates on new-build products

Skipton cuts rates on new-build products

Skipton Building Society has cut rates on its range of mortgage products for new-build properties.

The lender is shaving up to 0.34 per cent on its two-year new-build products at 90 per cent loan-to-value (LTV).

The new-build products all include free upfront valuations and two-year fixes at 2.85 per cent with £995 fee and fee-free 2.89 per cent, both to 90 per cent LTV.

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Five-year fixes are at 3.79 per cent with £995 fee, and fee-free 3.99 per cent to 90 per cent LTV deals are also available.

All of these include free upfront valuations and, in some cases, up to £500 cashback on completion.

Help to Buy remortgage products now also include the full Deed of Postponement fee for Scottish customers (extra £90 in legal fees) and all Help to Buy remortgage products are now fee-free.

Last month, Skipton opened up its new-build lending at 90 per cent LTV to all intermediaries, having previously only had higher LTV products available for selected brokers.

In March, it also lifted broker restrictions on its Help to Buy mortgage range, and launched new products for the Help to Buy London and Scotland shared equity schemes.

Adviser view

James Carter, principal at brokers Independent James, commented: “The new-build products are at a great LTV, and having free upfront valuations on both ranges is always welcomed by clients.”