Responding to market conditions, the lender has relaunched products including a five-year fixed rate at 1.65% up to 75% LTV with a £1,995 fee, remortgage products including a two-year fix at 1.32% with a £995 fee and a 10-year fix at 2.32% with no fee, both available up to 60% LTV
A buy-to-let two-year tracker is also available at 2.32% up to 60% LTV with a £1,495 fee for purchase and remortgage.
Under a revised affordability approach, Skipton has confirmed it will accept cases from applicants who have been furloughed. 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: “During this difficult time, Skipton remains committed to supporting borrowers by providing access to a broad range of competitive mortgage deals. We’re working hard to continue to make our proposition as widely accessible as possible whilst also maintaining the high levels of service brokers and customers expect.
“Our reintroduction of 75% LTV deals for buy-to-let and residential purchases and support for furloughed workers demonstrates this commitment, whilst the launch of special range of Scottish products up to 95% LTV for applicants with a valid Home Report provides a pragmatic approach to supporting borrowers in Scotland in this difficult and usual environment.
“In order to help us continue to support you and your clients, I encourage anyone who needs to speak to us to make use of our online FAQ pages, webchat and email services in order to avoid longer telephone wait times in our contact centre.”
