Brilliant Solutions

The internet is down in our Head Office.  Staff continue to answer the phone and respond to messages but understandably response times and service standards are affected.  Please contact your Relationship Manager directly if you have any urgent issues.  Thank you.

Our office will be closed from 5pm Thursday, 20th October to 9am Friday, 21st October.
If you have any cases or enquiries that this may affect, please contact our team today. We apologise for any inconvenience.

We are currently experiencing some technical issues that are affecting our telephone lines and internet connection.

We hope to resolve this asap. Apologies for the inconvenience.

 

In honour of Her Majesty Queen Elizabeth II our offices will be closed on Monday 19th September while our staff pay their respects.

The office will re-open at 9am on Tuesday 20th September.

Skipton Update

The Skipton Building Society has released an intermediary update.  For full details see their latest product information here. All Skipton products are accessible through our direct to lender mortgage club with payment on completion.  Contact us for details. 

Skipton Announcement

95% is back and I want to help you, help your clients!

I hope you have spotted that Skipton have re-entered the 95% market!

I want to help you take full advantage of this offering, so you are able to help more of your clients. As you can expect, 95% mortgages do come with a tighter scorecard so please read the below to ensure you fully understand the offering. This will help you to set your clients expectations with Skipton.

POLICY

  • These are only available for First Time Buyers.

On an application with multiple applicants, ALL applicants must be First Time Buyers.

  • 95% products is not available on flats or New Build. (Except Shared Ownership).
  • 95% is available for Shared Ownership but not for any other government support schemes.

95% shared ownership is available on new build properties

  • Maximum LTI is 4.49
  • It is now acceptable to use 50% of additional income provided it is evidenced by 2 years history. Average of the last 2 years or latest if lower as per policy.

(Please note this now also now standard policy for 90% lending as well)

HINTS AND TIPS

 Ensure you have seen your clients credit files – any credit blemishes will heavily impact their ability to get a 95% mortgage with Skipton

  • Make sure you are aware of your client’s credit utilisation – high levels of debt will not be viewed favourably
  • If your clients are currently on the voters roll this will help
  • Ensure you are using all the income you can for your applicants – even if it is not needed
  • Skipton are a soft footprint at DIP stage
  • Gifted Deposits at 95% are acceptable if they are needed

If you have any questions at all, please do not hesitate to get in touch.

95% LTV lending is back today

We’re excited to announce that we’ve reintroduced 95% LTV lending. It’s a positive step for first-time buyers who have managed to save a 5% deposit, but whose plans have had to be put on hold over the past 12 months. We’re particularly proud to be one of the first lenders off the mark to support the Chancellor’s call to answer the first-time buyer market.

Standing strong
“The time is now right for Skipton to once again support first-time buyers who have been able to save a five per cent deposit. The Society is in a strong financial position and this means we can re-enter the 95% market with confidence, focused on delivering on our mutual purpose of enabling homeownership and supporting this most underserved segment of first-time buyers”.

Alex Beavis, Head of Mortgage Products, Skipton Building Society for Intermediaries

New products and criteria
From today (Monday 22 March), your clients will have access to a five-year fee-free product. 95% LTV lending for Shared Ownership will also be making a comeback, including on flats and new builds. This is another fantastic initiative designed to provide more affordable ways for first-time buyers to get on the property ladder.
 
Key Changes
  • New 95% LTV Residential product for First Time Buyers only.
  • New 95% LTV Shared Ownership product for First Time Buyers only.
  • 2 new 60% LTV Intermediary Exclusive products.

5 yr fixed
95% LTV
For purchase and FTB only
No Fee
4.17%

5 yr fixed

95% LTV
For purchase and FTB only
No Fee
4.52%

2 yr fixed

60% LTV
Residential Purchase/Remo
£995 fee
1.13%

View our latest product range →

Criteria for 95% lending
  • No furlough income.
  • 50% additional income can be included (2 years evidence).
  • Not available on flats or new build (except Shared Ownership).
  • Max LTI 4.49.
  • Available direct and via intermediaries.
  • Max loan amount – £450k.
Criteria for 95% lending on Shared Ownership
  • Available on flats and new build.
  • No furlough income.
  • 50% additional income can be included (2 years evidence).
  • Max LTI 4.49.
  • Available direct and via intermediaries.
  • Max loan amount – £450k.
All valuations will be instructed on day one. However, we anticipate a high level of demand, so products could be withdrawn at short notice. Phone and web chat lines are likely to be busy too, so please bear with us if you have to wait longer than normal and ensure your cases are properly packaged before submitting them to us to help avoid delays.

Keep an eye out for more updates.

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