Skipton Building Society has relaxed its lending criteria on flats, which the mutual says will help first-time buyers get onto the property ladder.
Its changes cover:
- Minimum value for non-standard flats reduced to £100,000 from £150,000 for flats outside Greater London
- Minimum value remains at £300,000 in Greater London
Skipton Building Society senior national account lead Jonathan Evans says: “In response to evolving market conditions and our commitment to broadening access to homeownership, we have updated our policy on flats to include lending to more properties at lower market values.
“This adjustment reflects our dedication to serving a wide range of customers and communities.”
