Skipton mortgage lending criteria is updated.
Skipton mortgage lending criteria has been updated and now includes what the lender believes to be some very positive selling points.
Criteria has been changed for buy to let mortgage offers. Skipton advise that if backed up by a P60 an applicant's regular bonus, commission, overtime and non guaranteed income will be accepted providing they have been with their employer for more than 12 months.
Skipton mortgage criteria for interest only has also been adjusted. A minimum 40% deposit will be required for second time buyers or those looking to remortgage. Interest only mortgage deals are not available for first time buyers.
Pension lump sums, mortgage over-payments, the setting up an investment or sale of the mortgaged property will no longer be accepted as an adequate interest only repayment vehicle.
Mortgages for new build houses will be available at 90% LTV and for new build flats at 75% LTV, however builder deposits are not acceptable.
All Skipton mortgage deals are available to EU nationals up to a maximum age of 75 years and non EU national with permanent right to reside. Contract workers will be considered for a mortgage providing they have had a previous 12 month contract.
The lender offers free valuation and free legal work on unencumbered remortgages providing they have been unencumbered more than 10 years.
If you are interested in a competitive Skipton mortgage and would like a comparison against other lenders rates contact Deal Direct.
Deal Direct can source the most competitive deals on offer in the UK.
