Skipton expands Lifetime ISA mortgage exclusives

Available from tomorrow, new two-year fixed rates from 2.30% with £500 cashback and five-year fixes from 2.69% with £1,000 cashback are being introduced at 85%, 90% and 95% LTV.

On top of this, Skipton already offers £250 cashback on mortgages for its LISA customers.

Skipton launched the first Cash Lifetime ISA to UK consumers in June 2017 and over 120,000 accounts have since been opened.

Last week, the government rejected the Treasury Committee’s recommendation that the Lifetime ISA should be abolished.

Kris Brewster, Skipton’s head of products, said: “We welcome the government’s commitment to the Lifetime ISA product. There is clear evidence that the Lifetime ISA helps to answer the needs of a new generation of savers, supporting property ownership and preparation for life ahead. Over 120,000 of our members are already using the product to boost their savings, with over nine out of ten looking to buy their first home.

“By widening the choice of loan to value on its LISA exclusive range, the Society is further answering the needs of a new generation of savers by assisting them in getting a foot on the property ladder.”