Skipton Intermediaries is increasing the maximum acceptable LTV on new build flats to 90% with access to the new policy available through selected broker partners and via Skipton’s direct channel.

Designed following consultation with the intermediary market, Skipton’s new proposition includes:

• An increase in maximum LTV on New Build flats to 85% LTV with up to 90% LTV permitted with selected broker partners and via its direct channel
• 90% LTV still available on new build houses
• A bespoke suite of residential New Build products offering free, immediate valuation instruction on all New Build cases
• Extendable mortgage offer periods on a six months + six months basis – supporting off plan purchases
• Up to £1,000 cashback on selected deals to help with moving in expenses and legal fees
• Extended product fixed end dates
• Dedicated New build  underwriting team

The launch is backed by the creation of a specialist New Build support team with direct telephone (0345 600 2258) and email access (newbuild@skipton.co.uk).

Paul Darwin, Skipton’s head of intermediary relationships, said: “Our move to 90% LTV on new build 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. We think this move further demonstrates our commitment to meeting the real life lending needs of our customers.

“All new build applications to Skipton are underwritten within its specialist new build underwriting team. We welcome any applications from brokers with strong experience in new build lending to join our specialist new build partner panel to access our help to buy and 90% new build flat product range.  Brokers interested in joining the new build partner panel are encouraged to speak to their local intermediary relationship manager.

“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 exclusive 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.”