Bank of England held at 0.1% in unanimous vote
Skipton enters 95% LTV New Build market
Skipton Building Society are introducing a new product range including 95% LTV fixed rates available on New Build houses. The rates are available from Monday and include 2 year fixed rate at 3.74% and a 5 year fixed at 3.76%, with no fee and £500 cashback.
New build flats will continue to be limited to 85% LTV; however, shared ownership continues to be an exception where Skipton will allow new build houses and flats up to 95% LTV.
Speak to your adviser for further information on New Build and Shared Ownership.
Virgin Money prepare to launch a “10 day Application to Offer Service Commitmen”
Mortgage Lender, Virgin Money have announced they are soon to launch a 10-day Application to Offer Service Commitment meaning they will issue a Mortgage Offer within 10 days of receiving a fully packaged application, or the client gets £100.
Virgin have pre-released a guide for brokers to access detailing the scheme and have confirmed; they will accept scan copies or photos of documents assuming they are clear and have published a detailed list of their document requirements, dependant on the clients circumstances, that your advisers can run through with them prior to their mortgage application being submitted.
