View more on these topics

Skipton pulls out of 95% LTV lending temporarily

Skipton Building Society is to temporarily pull out of 95% loan-to-value lending.

The lender entered the 95% LTV market in March last year but says it has decided to temporarily withdraw these products due to unexpected demand.

Skipton entered the market in March last year, offering a single product through subsidiary Connells.

It currently offers two 95% LTV products, a three- and five-year fixed rate mortgage.

A Skipton spokeswoman says: “Since the start of this year we have seen quite an uptake of applications for 95 per cent LTV loans, so as a result what we have set aside for them has been over subscribed and we have decided to pull out of them for the time being.”

 

Recommended

Caption Competition

xit2’s Mark Blackwell, caught here competing in the 2006 New York Marathon, is training for his second London Marathon

Clients advised to avoid HSBC to prevent delays

Estate agents have started to advise mortgage borrowers against using HSBC because of its recent decision to cut its conveyancing panel to just 42 firms, says The Law Society. The lender made the decision in January and although customers are free to choose their own solicitor, HSBC will still use a panel firm for its […]

Comments
  • Post a comment
  • Russell 30th March 2012 at 1:41 pm

    Devostated!! we had the mortgage agreed in principal and had an offer accepted on our first house only to find they have stopped lending. Thought they may atleast honour those who have already had aggreement in principal.

  • HW 26th March 2012 at 4:15 pm

    Yawn! Yawn! So Skipton has withdrawn 95% LTV schemes due to “demand.” Big deal. Many tried (demand), but very few were successful. This announcement will make no difference whatsoever to the mortgage market. Yawn!