"We’re delighted to reintroduce lending at 85% LTV and reduce rates on many products giving borrowers more choice and better value."
Alongside the increased LTV, Skipton has reduced rates across a range of mortgages including new build and interest-only products.
New rates include two-year fixes at 1.37% up to 60% LTV with no fee and 1.59% to 85% LTV with a £995 fee. Five-year fixes start from 1.35% at 60% LTV with a £1,995 fee and 1.76% up to 75% LTV fee-free.
For Help to Buy, a fee free two-year fix is available at 1.89% to 75% LTV and a two-year fee-free shared ownership product starts at 2.69% up to 85% LTV.
Buy-to-let fee-free two-year fixes start at 1.99% at 60% LTV and 2.34% at 75% LTV, while five-year fixes are available at 1.79% up to 60% LTV with a £1,995 fee and 2.19% to 70% LTV with a £995 fee.
Skipton recently announced that under a revised affordability approach, it will accept cases from applicants who have been furloughed. However, affordability will be assessed on the new, furloughed income, including any top up contributions made by the employer. The maximum LTV where any applicant is relying on furloughed income is 60%. Product transfers are excluded from these restrictions, unless the applicant is also seeking additional funds.
Alex Beavis, Skipton’s head of mortgages, said: “We’re delighted to reintroduce lending at 85% LTV and reduce rates on many products giving borrowers more choice and better value. As a mutual, we strive to help people buy their own homes and through this difficult time we have maintained high levels of service to ensure our customers get the best experience when buying or remortgaging.
“Our reintroduction of 85% LTV deals for new build, shared ownership and residential purchases and support for furloughed workers demonstrates this commitment."
