We’re excited to announce that Skipton have reintroduced 95% LTV lending. It’s a positive step for first-time buyers who have managed to save a 5% deposit, but whose plans have had to be put on hold over the past 12 months. Skipton are particularly proud to be one of the first lenders off the mark to support the Chancellor’s call to answer the first-time buyer market.

New products and criteria

From Monday 22nd March, your clients will have access to a five-year fee-free product. Skipton will also be making a come back to 95% LTV lending for shared ownership, which will include flats and new builds. This is another fantastic initiative designed to provide more affordable ways for first-time buyers to get on the property ladder.

Key changes

  • New 95% LTV Residential product for first time buyers only;
  • New 95% LTV Shared Ownership product for first time buyers only;
  • Two new 60% LTV intermediary exclusive products.

5 yr fixed
95% LTV
For purchase and FTB only
No fee

4.17%

5 yr fixed
95% LTV
For purchase and FTB only
No fee

4.52%

2 yr fixed
60% LTV
Residential
Purchase/Remortgage
£995 fee

1.13%

Criteria for 95% lending

  • No furlough income;
  • 50% additional income can be included (2 years evidence);
  • Not available on flats or new build (except Shared Ownership);
  • Max LTI 4.49;
  • Available direct and via intermediaries;
  • Max loan amount – £450k.

Criteria for 95% lending on Shared Ownership

  • Available on flats and new build;
  • No furlough income;
  • 50% additional income can be included (2 years evidence);
  • Max LTI 4.49;
  • Available direct and via intermediaries;
  • Max loan amount – £450k.

All valuations will be instructed on day one. However, Skipton anticipate a high level of demand, so products could be withdrawn at short notice. They are anticipating phone and web chat lines to be busy, so please bear with them if you have to wait longer than normal and ensure your cases are properly packaged before submitting them to help avoid delays.

For more information view Skipton’s latest product range here, call 0345 601 6683 or visit their website.