Skipton BS expands Lisa offering

Skipton Building Society has announced that from Friday 17 October it will be expanding the range of mortgage products available only to Lifetime Isa holders.

In total there will be six new purchase products, consisting of three two-year fixes, with £500 cashback, and three five-year fixes, with £1,000 cashback. They will be available at 85 per cent, 90 per cent, and 95 per cent LTV.

Skipton was the first lender to offer a cash Lisa in 2017, and was subsequently followed by Nottingham Building Society and Newcastle Building Society, announced in Q3 and Q4 of this year, respectively.

This move comes soon after the government rejected calls to scrap the Lisa, as reported by Mortgage Strategy last week.

Skipton head of products Kris Brewster says: “We welcome the government’s commitment to the Lifetime Isa product. 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 120,000 of our members are already using the product to boost their savings, with over nine out of ten looking to buy their first home.

“By widening the choice of loan to value on its Lisa exclusive range, the society is further answering the needs of a new generation of savers by assisting them in getting a foot on the property ladder.”

Recommended

Government rejects calls to scrap Lifetime Isas

The government has rejected recommendations from the Treasury Select Committee to abolish Lifetime Isas. In a report published in July, the committee said written evidence from UK Finance found the Lifetime Isa wasn’t working due to its “perverse incentives and complexity” as well as its “apparent lack of popularity”. It also said that in promoting […]

House-For-Rent-Home-700.jpg

Private rental demand cooling: BM Solutions

Demand from UK residential renters is flattening off, according to research from BM Solutions. The research shows that 45 per cent of landlords saw no change in demand from tenants in the second quarter compared to the first. Meanwhile, London was the only area of the UK to see a fall in demand. More than […]

Cover feature: Building on new build

Thanks in part to the government’s Help to Buy scheme, new builds are rising in popularity. Guy Anker investigates the ups and downs of owning a new house The popularity of new build properties is rising and many credit the Help to Buy equity loan scheme with boosting demand. Meanwhile, it appears many buyers have […]

Newsletter

News and expert analysis straight to your inbox

Sign up