Skipton Building Society is the first major lender to offer 95% loan-to-value mortgages for new build properties.
This announcement is welcome news for first-time buyers who are ineligible for Help to Buy, and similar government schemes, as they can now apply for a mortgage with a much smaller deposit.
According to Skipton Building Society, the decision to offer 95% LTV on new build properties is part of its commitment to encouraging a transition into more environmentally friendly and energy-efficient housing.
James Watts, our Managing Director, said: “It’s brilliant to see Skipton Building Society offering larger mortgages on new build homes.
“With house prices remaining high across the region, this is fantastic news for first-time buyers making their first steps onto the property ladder, and we hope to see more lenders following Skipton Building Society’s example.”
We currently have a select development of three-bedroom, new build homes for sale in Cleckheaton. Built by award winning developer Essential Homes, Whitcliffe Gardens will be ready for occupation in December 2021.
We would advise anyone interested in taking out a 95% mortgage on one of our new build properties, to contact our team on 01274 878878.