Skipton cuts new build rates by up to 34bps

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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 90 per cent LTV.

The lender is also cutting rates on its five-year fixes. Skipton is offering these at 3.79 per cent to 90 per cent LTV with £995 fee and fee-free at 3.99 per cent to 90 per cent LTV.

The changes come in tomorrow.

The lender is also launching a simplified Help to Buy range.

The range includes purchase products to cover 60 per cent to 80 per cent LTVs, while remortgage products cover 70 per cent and 75 per cent LTVs for both two- and five-year fixes.

The new products all include free upfront valuations and some have £500 cashback on completion.

Help to Buy remortgage products now include the full Deed of Postponement fee for Scottish customers, and all Help to Buy remortgage products are now totally fee free for customers.

Skipton head of products Kris Brewster says: “We believe our new build residential products offer very attractive rates and will help first time buyers and those looking to move up the housing ladder to realise their dream of moving into a new property.”

Last month, Skipton opened up its new build lending at 90 per cent LTV to all intermediaries. Before, the higher LTV products were only available to selected brokers.