Skipton's 100% Mortgages: Empowering First-Time Buyers

Douglas & Gordon is excited to share the latest development for first-time buyers: Skipton Building Society's 100% mortgages. This innovative mortgage scheme has garnered attention, offering a chance for first-time buyers to achieve homeownership. In this blog post, we delve into the details of Skipton's 100% mortgages, highlighting the eligibility criteria and sharing a success story that showcases the expertise of our partners at Prestige Private Finance.

Eligibility Criteria for Skipton's 100% Mortgages

Skipton's 100% mortgages are designed specifically for first-time buyers seeking to enter the property market. Here are the key eligibility criteria to keep in mind:

First-time buyer status: Each applicant must be a first-time buyer.
Age requirement: Each applicant should be aged 21 or over.
Minimal deposit: If a deposit is available, it must be less than 5% of the purchase price.
Clean payment history: Each applicant must have no missed payments on debts or credit commitments in the last 6 months.
Borrowing limit: Applicants can borrow up to £600,000.
Non-new build flat: The mortgage is not available for the purchase of new build flats.
Proof of rent payment: Applicants must provide evidence of having paid rent for at least 12 consecutive months within the last 18 months.
Household bill payment experience: Applicants must have 12 months of experience paying all household bills within the last 18 months.

Success Story at Prestige Private Finance

Philip Moses, Sales Director at Prestige Private Finance, shares an inspiring success story: "Last week, we had a client who submitted an application with NatWest. Unfortunately, the property underwent a down valuation, decreasing its appraised value from £360,000 to £300,000. Despite our efforts to appeal the valuation, the surveyor remained unyielding. In response, our dedicated broker, Gary, took the initiative to submit a fresh application with Digital Mortgages. Given that no other lender could offer the required mortgage amount, this alternative approach proved fruitful. Remarkably, Gary received an automated valuation, resulting in the case being submitted and approved within a mere two working days!"

Partnering with Prestige Private Finance

At Douglas & Gordon, we prioritize delivering exceptional service and exploring all avenues to secure the best mortgage options for our clients. Our partnership with Prestige Private Finance, a leading mortgage brokerage, allows us to offer unparalleled expertise and assistance in navigating the evolving landscape of mortgage options.

Skipton's 100% mortgages present an exciting opportunity for first-time buyers to step onto the property ladder. With Douglas & Gordon's commitment to exceptional service and our partnership with Prestige Private Finance, we strive to ensure our clients receive the best mortgage options available. Contact us today to explore the possibilities and make your dreams of homeownership a reality.