"By helping to cover some of the often-overlooked costs of purchasing a home, we hope to provide first time buyers with a valuable boost and make the dream of homeownership a reality sooner."
- Jen Lloyd, head of mortgage products & propositions at Skipton
Skipton Building Society has launched a new Track Record product which will include £1,000 cashback, aiming to help first-time buyers with the additional costs required when buying a home.
The five-year fixed rate, available from Wednesday 16th October, is available at 5.44% with no fee and £1,000 cashback.
The maximum loan the customer is eligible for with Track Record is calculated using the product rate, therefore customers choosing the cashback product will have smaller maximum loans sizes due to the slightly increased rate.
The new product builds on recent enhancements to the range made in August, including extending the maximum loan term to 40 years, offering lending on new-build flats, and introducing a shared ownership version of the product.
Jen Lloyd, head of mortgage products & propositions at Skipton Building Society, said: "The current climate has made it increasingly challenging for first-time buyers to step onto the property ladder. We launched the Track Record Mortgage in 2023, to help people escape the rental trap and get the keys to their very own home.
"Since launch we've reviewed and enhanced our proposition and we’re pleased to confirm the launch of a new Track Record product, including £1,000 cashback. By helping to cover some of the often-overlooked costs of purchasing a home, we hope to provide first time buyers with a valuable boost and make the dream of homeownership a reality sooner.”
