Mortgages

Skipton enters 95% LTV mortgage market

Rozi Jones
|
12th July 2018
Skipton
"LISA customers who take a mortgage with the society will receive £250 cashback as standard but they can increase that amount by £1,000 by taking our new LISA exclusive "

Skipton Building Society is now offering mortgages up to 95% LTV, including a new exclusive mortgage product for Lifetime ISA borrowers.

As well as the three-year fix offering £1,000 cashback exclusively for LISA customers, the new range of fee-free residential 95% LTV products includes a two-year fix at 2.99%, three-year fix at 3.35% and a five-year fix at 3.59%.

Skipton has already promised £250 cashback on mortgages for its LISA customers, but those taking the three-year fixed rate exclusive at 3.69% will also receive the additional £1,000 cashback.

Kris Brewster, Skipton’s head of products, said: “As one of the largest UK building societies, Skipton’s purpose has always been to support people in planning and preparing for their life ahead. By adding 95 per cent mortgages to our product range we are giving homebuyers, including those purchasing for the first time, the opportunity to step onto the housing ladder sooner than they might have expected.

“In addition, Skipton has already promised that all LISA customers who take a mortgage with the society will receive £250 cashback as standard but they can increase that amount by £1,000 by taking our new LISA exclusive mortgage product.

“Our LISA customers have already received over £98 million in cash Lifetime ISA bonus from HMRC to help first time buyers on their journey towards buying a home. Since Skipton launched its cash LISA, more than 100,000 accounts have been opened sending a real signal of intent from our younger members that despite increasing house prices and squeezes on our wallets they are making a determined effort to get the keys to their first home.”

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