According to the lender, 12 new 2 and 5 Year exclusive products will be available, offering up to £1,500 cashback, are being introduced at 85%, 90% and 95% LTV for first time buyers. On top of this, Skipton already promises £250 cashback on mortgages for its LISA customers.
As the first and biggest provider of the Cash LISA, Skipton is committed to helping first time buyers get on the property ladder. The Society launched the first Cash Lifetime ISA to UK consumers in June 2017 and since then more than 147,000 accounts have been opened.
Highlights of the new Lifetime ISA exclusive range include a fee free 2 Year fixed at 3.29% to 95% LTV with a total of £1,750 cashback, a fee free 2 Year fix at 2.67% to 90% LTV with a total £1,750 cashback, and a fee free 5 Year fix at 2.41% to 90% LTV with £250 cashback.
Highlights of the new range include:
No application or valuation fees, earn up to £1,500 cashback on selected products. All Skipton LISA customers are entitled to an additional £250 cashback per mortgage application, across the range. 2 and 5 Year Exclusive Products – available to Skipton LISA customers only. Products available via Intermediaries and Direct. Available at LTVs of 85%, 90% and 95%
Alex Beavis, (pictured) Skipton’s Head of Mortgage Products, said: “The launch of these new products further supports our Lifetime ISA customers in achieving their aspiration of being a homeowner and to put them in a good place. There is clear evidence that the Lifetime ISA helps to answer the needs of a new generation of savers, supporting property ownership and preparation for life ahead. Over 147,000 of our members are already using the product to boost their savings, with over nine out of ten looking to buy their first home.
Since 1853, Skipton has helped people to save for and then purchase their first home. By adding further mortgage products exclusively for customers with a Lifetime ISA, we are giving homebuyers purchasing for the first time, the opportunity to step onto the housing ladder sooner than they might have expected.”
