The new deals have been introduced to provide more options to borrowers with a substantial deposit, bridging the gap between the 75% and 85% loan-to-value (LTV) range.
The new 80% products are available on purchases and remortgages, and borrowers can choose between two- and five-year product terms. There are also options at different fee levels as well as products that come with cashback.
What’s new?
The 12 new products include a five-year fixed rate for purchases at 4.35% with a £2,995 fee and a fee-free, two-year fixed remortgage at 5.28%.
The lender also announced it is cutting the rate on its Track Record Mortgage by 0.05 percentage points to 5.44%.
Jennifer Lloyd, head of mortgage products and proposition at Skipton, said: “We’re pleased to introduce these new 80% loan-to-value 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 enhancements announced last week to open the doors to even more trapped renters.”
