"People who have good jobs, earning very healthy salaries, and have saved up large deposits, are still being priced out of the south and London markets."
Skipton hopes the changes will support first time buyers in the London and South housing markets in particular, where first time buyers struggle to meet lenders affordability criteria.
Skipton recently launched a new simplified Help to Buy range including purchase products between 60% and 80% LTV, with 2 year fixes ranging from 1.79% - 2.65% and five year fixes between 2.59% - 3.19%.
Kris Brewster, Skipton’s Head of Products, said: “This is yet another move we have made following listening to customer and broker feedback, and us updating our criteria accordingly.
“It’s important that we continually review our lending criteria, as we all know how fast the UK mortgage market changes. People who have good jobs, earning very healthy salaries, and have saved up large deposits, are still being priced out of the south and London markets. This move will enable more first time buyers to move away from renting, and to get the keys to their first home.”
