95% mortgages for first-time buyers being issued by Skipton

An announcement by Skipton Building Society for Intermediaries of their launch for a new 95% LTV mortgage range for first-time buyers only.

Skipton’s standard residential range, the high-LTV mortgage is available on a five-year fix at 4.17%. It charges zero fee.

First-time buyers looking for a property under the shared ownership scheme, the five-year fix is available at 4.52%. This also charges no fee.

Both of the abovementioned have a maximum loan amount of £450,000.

The lender has also issued a 95% LTV two-year fix in its rate switch line up for existing customers only – this is set at 4.14% and, along with zero fee, features a maximum loan amount of £3m.

It is available on a repayment and interest-only basis.

The lender warns that it expects its teams to be busy.

There has been a general move into the 95% LTV market, with both the Bank of Ireland and Accord announcing new deals last week.