Skipton Building Society has revealed this week that it will be launching a revised new build and help to buy product range, which now includes rate cuts of up to 0.8% on 90% loan to value (LTV) on new build products.
The latest changes to Skipton Building Society help to buy mortgage products will now allow new build customers to access products from Skipton Building Society’s residential core range, or any applicable residential exclusives up to 85% LTV. Following the introduction of these new products, the lender will be withdrawing all its existing new build products at 75%, 80% and 85% LTV.
Following cuts on high LTV rates by up to 0.65%, the lender has announced that all new build business – regardless of the product selection – will continue to receive a free, upfront valuation. As well as this, the help to buy range will now offer free valuation with £500 cashback on selected products. This comes with the benefit of a specialist new-build underwriting team which is available to brokers.
The Building Society has clearly been renovating its product range lately, with the lender also announcing that it will be launching rate cuts of up to 0.2% to existing help to buy purchase and remortgage rates. Not only this, 70% LTV products will be another new addition to the lender’s existing help to buy remortgage range.
Movement in the market doesn’t stop there, however, with Virgin Money for Intermediaries making changes to both its core and exclusive range. The lender has firstly announced that it will be withdrawing the following products from its Intermediary Exclusive range, now removing its 2 year fixed rate product at 1.97% up to 80% LTV with a £995 fee.
Virgin Money has also decided to scrap both its 5 year fixed rate remortgage deal at 2.44% up to 70% LTV with a £1,495 fee and 2.94% up to 70% LTV with a £495 from its core range. 2 year fixed rates at 2.04% up to 85% LTV with a £995 fee has also been withdrawn. Finally, buy to let 2 and 5 year fixed rate ‘fee savers’ at 3.09% and 3.89% up to 60% have been withdrawn.