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Skipton launches into Help to Buy equity loan scheme

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The UK's fourth largest building society has joined the government backed Help to Buy equity loan scheme.

Skipton Building Society has launched a bespoke suite of exclusive Help to Buy products to 90% LTV, offering first time buyers the choice of fixed rate and discount products, all fee-free with £500 cashback.

Help to Buy equity loan, launched April 2013, is available to first-time buyers and people already on the property ladder on properties worth up to £600,000.

The first Help to Buy scheme offers an interest free loan for the first five years in England and Wales and interest free for the term of the loan in Scotland.

The Skipton products will be offered direct, online and initially through selected intermediaries although there are plans to extend distribution.

Kris Brewster, Skipton’s head of products, said: “We already punch well above our weight in terms of keeping Britain moving and enabling a variety of people to get the keys to their dream homes.

“Our existing range of higher LTV mortgages receives frequent mentions in independent media best buy tables for providing great value products outside of the Help to Buy scheme.”

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