Skipton Intermediaries is embarking on what it calls “a new approach to new build lending”.
This includes a range of residential product, policy and service improvements.
It will now offer Up to 90% LTV on houses and 85% LTV on flats as well as a “bespoke” suite of residential new build products offering free valuation instructed at application.
Skipton Intermediaries is also introducing extendable mortgage offer periods on a six months + six months basis, supporting off plan purchases and longer-term fixed end dates.
Other improvements include up to £1,000 cashback on selected deals to help with moving expenses and legal fees and dedicated new build underwriters.
The launch is backed by the creation of a specialist new build support team.
Paul Darwin, Skipton’s head of intermediary relationships, said: “We see the new build market as essential in meeting the growing UK housing need. It plays a key role in supporting both first time buyers and hardworking families looking to move up the ladder.
“Our move from 75% to 85% LTV on flats reflects our belief that the market is being overly cautious in relation to new build properties, which are being built to a high standard in areas of strong demand.
“All Skipton’s residential new build applications are now given a free valuation, instructed as soon as we receive the fully packaged case. We believe this will increase our speed of service and further demonstrates our commitment to meeting the real life lending needs of our customers.
“Our message to the country’s brokers is Skipton understands that new build business is incredibly important in the current climate. Skipton Intermediaries has launched this new build offering to meet the needs of brokers and their clients, ensuring they can offer clients a great deal along with some seriously speedy service.
“We’ve been working hard to deliver brokers our best new build proposition, with attractive deals from 60% up to 90% LTV, and even 85% LTV on flats, alongside a dedicated new build team who can answer any of your queries quickly.”
