Following feedback from trusted broker partners, Skipton Intermediaries is introducing a brand new range of residential mortgage products for purchase and remortgage, while Leeds Building Society is loosening its interest-only criteria.
Skipton Intermediaries’ five-year fixed rate range includes products from 60%, 80%, 85% and 90% loan-to-value (LTV) with rates starting from 2.49%(5% APR).
The intermediary exclusive products are available for purchase and remortgage and brokers who make use of the range will be offered a preferential underwriting service and will be allowed to extend client offers for up to 12 months on a 6 + 6 basis.
The products also offer free valuations, no completion fees and free standard legal fees.
Paul Darwin, director of intermediary relationships, Skipton said:
“Skipton is committed to building mutually strong relationships with our valued professional partners and so we’re delighted to announce the release of these new competitive 5-year fixed rate residential products.
“At Skipton Intermediaries we spend a great deal of time talking with and listening to brokers, and it’s thanks to their feedback that we’ve been able to devise these great products and continue to support our broker partners.”
In an effort to loosen its interest-only criteria, Leeds Building Society has announced that it will now accept sale of property as a repayment method for certain interest-only borrowers.
This repayment method is available to those on part and part interest-only residential mortgages up to 75 per cent LTV.
Martin Richardson, director of business development for Leeds, said:
“We always try to be responsive to borrowers’ and brokers’ feedback and have kept our criteria under review since we launched part and part interest-only mortgages almost a year ago. These latest changes are part of how we’ve further refined and improved criteria since we brought this award-winning product to the market.
“As anticipated, part and part has been particularly popular for remortgages as it offers borrowers currently on full interest-only the flexibility to start paying down their loan in a manageable way.”