Skipton Building Society has recently announced the launch of a new mortgage product, offering customers the chance to take out a mortgage with no deposit required. This new 100% mortgage product is designed to help those who are struggling to save for a deposit, allowing them to get onto the property ladder sooner.
The new product is available to both first-time buyers and existing homeowners, and is available up to a maximum loan-to-value (LTV) of 95%. This means that customers can take out a mortgage for up to 95% of the value of the property they are buying, with no deposit required. The product also comes with a range of competitive rates, including a fixed rate of 2.99% for two years.
The new product is designed to help those who are struggling to save for a deposit, as well as those who may have been affected by the coronavirus pandemic. It is also hoped that the product will help to increase the availability of mortgages for those who may not have been able to get one previously.
Skipton Building Society has also announced that it will be offering customers the chance to take out a mortgage with a 5% deposit. This product is designed to help those who may have saved up some money but are still unable to afford a larger deposit. It is hoped that this product will help to make mortgages more accessible for those who may not have been able to get one previously.
Overall, Skipton Building Society’s new 100% mortgage product is designed to help those who are struggling to save for a deposit, as well as those who may have been affected by the coronavirus pandemic. It is hoped that this product will help to increase the availability of mortgages for those who may not have been able to get one previously.