Skipton re-enters 95% LTV mortgage market

Essex Home Finance
Skipton Building Society is re-entering the 95% mortgage market with two deals exclusively for first-time buyers.
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Skipton Building Society is re-entering the 95% mortgage market with two deals exclusively for first-time buyers.

The products include a fee-free five-year fixed rate at 4.17% and a fee free shared ownership five-year fix at 4.52%.

Only the shared ownership product can be used for new build or flats. The products have a maximum LTI of 4.49 and a maximum loan size of £450,000.

The Society has warned that it expects to see a high level of demand for the products and could pull the deals at short notice.

Alex Beavis, Skipton’s head of mortgages, said: “The time is now right for Skipton to once again support first-time buyers who have been able to save a five per cent deposit.

“The Society is in a strong financial position and this means we can re-enter the 95% market with confidence, focused on delivering on our mutual purpose of enabling homeownership and supporting this most underserved segment of first-time buyers.

“Given the pent-up demand from buyers being unable to access 95 per cent deals over the last year or so, we expect to see high volume levels of applications.”

Original Article from Financial Reporter 22/03/2021

 justinm73.sg-host.com/95mortgages

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