Skipton amends mortgage criteria to aid borrowers.
Skipton Building Society has announced the introduction of changes to its criteria in a bid to help more borrowers.
Policy enhancements include increasing the maximum loan size for those with a 15% deposit, from £500,000 to £625,000. The lender has also cut back its continuous employment criteria for first time buyers to 6 months. The lender advises that this shows its clear commitment to helping borrowers.
In addition, 2 and 5 year fixed rates have also been reduced. Range highlights include;
- A 2 year fix for up to 60% LTV at 1.39%.
- A 5 year fix for up to 90% LTV at 3.19%.
Both new deals are for property purchase and come with a £995.
Remortgaging home-owners are to also benefit from reduced fee deals. Range highlights include;
- A 2 year fix for up to 60% LTV at 1.39%.
- A 2 year fix for up to 60% LTV at 2.35%.
- A 5 year fix for up to 90% LTV at 3.19%.
Deals come with a £995 fee, however the lender has advised fee free deals are on offer with a slightly higher rate. Range highlights include;
- A 2 year fix for up to 60% LTV at 1.79%.
- A 2 year fix for up to 90% LTV at 2.69%.
Working out which deals offer better value, a higher rate fee free or a lower rate with a fee, can be complicated so it’s best to seek advice from an independent expert.
Call a Deal Direct adviser on 0800 048 8828 to find out what is on offer at your deposit level, and which deal is the best value over all.
Don’t make a mistake with your mortgage,
call today for no-obligation advice on 0800 048 8828.
