Skipton Intermediaries is rolling out a new range of residential mortgages for new builds in line with a recently announced effort to support the new build market.
The products, launched today, all include free upfront valuations and, in some cases, up to £1,000 cashback on completion.
The range includes two-year fixed-rate mortgages at 1.69 per cent to 60 per cent loan-to-value (LTV), 1.99 per cent to 75 per cent LTV and 4.49 per cent to 90 per cent LTV.
The deals fixed for five years come at rates of 2.69 per cent to 60 per cent LTV, 2.99 per cent to 75 per cent LTV and 4.79 per cent to 90 per cent LTV.
Apart from the new product range, Skipton’s new build proposition also encompasses changes to policy and service improvements.
Designed following consultation with the intermediary market, the new proposition includes:
- Up to 90 per cent LTV on houses and 85 per cent LTV on flats
- A bespoke suite of residential new build products offering free valuation instructed at application
- Extendable mortgage offer periods on a 6 months + 6 months basis – supporting off plan purchases
- Up to £1,000 cashback on selected deals to help with moving expenses and legal fees
- Longer-term fixed end dates
- Dedicated new build underwriters
Paul Darwin, Skipton’s head of intermediary relationships, 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.
“Skipton Intermediaries has launched this new build offering to meet the needs of brokers and their clients, ensuring they can offer a great deal, along with some seriously speedy service.”
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