Skipton Building Society has increased the maximum LTV for its joint borrower sole proprietor (JBSP), non-occupying borrowers, three to four person applications and family and tenant purchase products.
Within its JBSP and non-occupying borrower ranges, the maximum LTV has been increased from 85% LTV to 95% LTV.
For three to four person applications, the maximum LTV has gone from 75% LTV to 95% LTV and, for family and tenant purchases, the maximum LTV has moved from 90% LTV to 95% LTV.
Skipton head of mortgage products Charlotte Harrison says: “We have always recognised the importance of supporting first-time buyers to purchase their own home, and can see that with recent levels of house price growth, saving for a deposit has become even more of a challenge.
“That’s why I’m pleased to see us re-visit our approach to lending on low deposit mortgages in those areas that really can make a difference for buyers.”