View more on these topics

Skipton axes £500,000 loan cap for FTBs

Skipton Building Society and Skipton Intermediaries have axed their £500,000 maximum loan cap for first-time buyers.

Skipton says the change took place earlier today and is designed to help with affordability problems.

A Skipton statement says: ‘The move will in particular support the London and South housing markets, where first time buyers with good jobs and deposits struggle to meet lenders’ affordability criteria.

‘With average monthly rent payments in London estimated at £1,500, removing the maximum loan size cap will enable many more to get on the housing ladder.’

Skipton head of products Kris Brewster says: “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.”



Skipton cuts new build rates by up to 34bps

Skipton Building Society is cutting rates by up to 34 basis points on its two-year new build products at 90 per cent LTV. The new build products all include free upfront valuations and include two-year fixes at 2.85 per cent to 90 per cent LTV with £995 fee and fee-free at 2.89 per cent to […]


Skipton to pay proc fees in retention pilot

Skipton Building Society is set to launch a mortgage retention pilot and will be paying a procuration fee. The six-month pilot will be with Connells and London & Country. The lender will not be paying a full proc fee for retention business, but it is not disclosing what this will be as it could change […]


Skipton extends 90% new-build range to all brokers

Skipton Building Society is opening up its new build lending at 90 per cent LTV to all intermediaries from 20 April. Before, the higher LTV products were only available to selected brokers. Skipton is also launching a new build two-year fixed product to 90 per cent LTV at 3.15 per cent, exclusively to intermediaries for […]

Get your New Year off to a flying start

Ross Jackson, Senior Marketing Manager There’s no denying that these days we expect things quickly. You might have noticed it first-hand during the flurry and rush of the Christmas period. The fact is that in a world of smartphones, social media and click and collect, most clients expect to get an instant response and a […]


News and expert analysis straight to your inbox

Sign up