Here’s our latest update for inclusion in your weekly newsletter. We’d appreciate it if you could share this with your network.
Now more clients could benefit from Delayed Start
Whether it’s their first home or their next, the costs of moving can quickly add up. From removals and legal fees to furniture and unexpected repairs, many of the biggest expenses arrive before clients have had chance to settle in.
That’s why we’ve opened up Delayed Start to home movers, giving them greater flexibility to manage the costs that come with moving.
A reminder of what you need to know:
- Eligible clients can delay their mortgage repayments for up to the first three months (one, two or three months – depending on the product chosen) after completion. Interest will accrue from day one.
- Can be used with Income Booster (JBSP), New Build and Shared Ownership applications.
- Available alongside our Track Record mortgage (at least one applicant must be first-time buyer).
- Up to 10% overpayment allowance of the original loan amount per year (including during the delayed payment period of up to the first three months) without having to pay an Early Repayment Charge.
Subject to eligibility and lending criteria.
Because clients can face different affordability challenges, we’re always looking for new ways to support brokers with practical solutions. And with Delayed Start now available to a wider range of clients, it could be worth a closer look.
If you have any questions, please speak to your Skipton BDM or visit our website.