Skipton Building Society is launching 12 residential deals at 80% loan to value (LTV) and will cut its Track Record mortgage rate.
The 80% LTV product, the lender said, can bridge the gap between its 75% and 85% LTV options, and will give customers more choice.
The new products come with a range of options from purchases and remortgages on two and five-year terms with no fee, mid-fee and high-fee options along with cashback options.
A five-year fixed purchase rate at 80% LTV with a £2,995 fee is priced at 4.35% and its two-year fixed rate remortgage deal at the same LTV with no fee is 5.28%.
The Track Record mortgage, which allows renters to use their rental payment history to borrow at 100%, is being cut by around 0.05%, brining the price down to 5.44%.
The deal has been recently opened to shared ownership and increased the maximum term from 35 to 40 years.
The Track Record mortgage can also be used for new-build flats, and a new flexible underwriting to the household to household criteria has been brought in and relaxed rent to monthly mortgage payment criteria.
Jennifer Lloyd, head of mortgage products and proposition, said: “We’re pleased to introduce these new 80% LTV products to our existing mortgage range, these products are designed to offer our customers even more choice and flexibility to suit their individual needs, whether they’re purchasing or remortgaging.
“Alongside these additions, Track Record is also seeing a decrease which adds to the great enhancements announced last week to open the doors to even more trapped renters.”
Anna is currently the deputy editor for Mortgage Solutions and editor for Specialist Lending Solutions. She has worked as a journalist since 2019, having secured her Gold Standard NCTJ diploma from News Associates in a fast-track six-month course.
She started her career as a report at specialist publication The Insurance Insider covering a wide range of areas before joining Mortgage Solutions and Specialist Lending Solutions in 2021.
In her role, she helps put together and structure the news agenda for the day and writes up press releases, reports, interviews, analyses and exclusives across both titles. She also commissions blogs for Specialist Lending Solutions and hosts online masterclasses and in-person events across the business.
She has been shortlisted for three journalism awards, which include BIBA Journalist and Media Awards Scoop of Year Award in 2020, Headline Money Mortgage Journalist of the Year Award (B2B) in 2022 and 2023.
Prior to being a journalist, Anna worked in ecommerce across Snow + Rock, Cycle Surgery and Runners Need websites, and before that worked at specialist financial PR firm Rostrum.
In her spare time, Anna enjoys reading, seeing live music, and cooking for friends and family. When she gets a chance, she also enjoys hiking, skiing and indoor rock climbing.
