It has launched two fixed rate products which include a free valuation for purchase customers as well as a free valuation and free legal fees for remortgage customers and £1000 cashback for each successful application.
The first two-year fixed rate product is available at 2.98% for loan sizes up to 75% loan to value. The second product is available at 3.88% for loan sizes up to 85% loan to value. A £499 completion fee is payable, but can be added to the loan. A free standard valuation is available for both purchases and remortgages, whilst free standard legal fees are also available for remortgages.*
Robert McCoy, senior product and communications manager at SBG, commented:
The £1000 cashback is among the highest currently available in the market and is a welcome addition to the traditional fees assisted products we regularly see from lenders. I expect this to be popular with our members’ customers, be they purchasers or remortgagers.
Paul Darwin, Head of Intermediary Sales at Skipton, added:
We highly value our relationships with intermediaries, through whom we do more than 90% of our lending. We work closely with them to develop new products which help satisfy borrower requirements in the current mortgage market.
We’re delighted to offer this cashback product to PMS and Sesame members, and feel confident that it will prove popular to their customers, given the competitive combination of strong rates, no upfront costs, low completion fee and the added bonus of a £1000 cashback per case.