Skipton Building Society has joined up with its estate agency subsidiary Connells Group to offer a 95% product for new build properties.

It is available to first time and next time buyers purchasing a new build home.

The two-year fixed rate of 5.99% comes with a £195 application fee and no completion fee.

The maximum loan size is £300,000. It has an early repayment charge of 3% until 30 November 2013.

Overpayments of up to 10% per annum are allowed without penalty during the product term.

The Connells Group has a network of almost 500 branches throughout the UK and this product will be available to customers through the Group’s national team of mortgage consultants. It will also be offered by Connells Group subsidiary The New Homes Group, which specialises in new build homes, to purchasers from its housebuilder clients.

Adrian Scott, Connells Group mortgage services director, said: “New build homes are an essential ingredient of a buoyant housing market because they boost the availability of quality housing in general