Skipton Building Society offering new-build mortgages via brokers
Skipton Building Society has launched a range of new-build mortgages available through brokers.
The lender is providing a free property valuation, £500 cash back and no application or completion fees.
Their maximum loan-to-value is generous for new-build houses at 85% and 75% loan-to-value for new-build flats.
Aaron Strutt, product manager at Trinity Financial, says: “One of the main benefits of Skipton’s new-build mortgages is the flexibility of their acceptance criteria.
“They will provide off-plan mortgages if the property will be completed within 12 months. Plus they will potentially extend mortgage offers for a further six months beyond their standard six month offer period if the build is delayed.”
New build definition
Skipton’s lending criteria states that newly constructed or converted properties being sold for occupation for the first time will be classed as a new-build.
This also includes any property newly built or converted within the current calendar year (that commenced 1st January) or the last two previous calendar years.
Other lenders offering new-build mortgages
Trinity has access to a host of lenders providing new-build mortgages and one high-street bank is offering 85% loan-to-value of the full purchase price or valuation. This includes purchases where there is a builder’s cash incentive.
If you would like help to secure a mortgage for a new-build property, call Trinity on 020 7016 0790.
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