Skipton celebrates mortgage turnaround success

Skipton International is celebrating a successful year for mortgage turnaround with 89% of all applications it received getting a response within three working days.

Skipton International is celebrating a successful year for mortgage turnaround with 89% of all applications it received getting a response within three working days.

Skipton, who specialise in UK Buy-To-Let mortgages for overseas residents, last year showcased high efficiency and quick decision-making by getting back to the vast majority of applicants within just three working days.

The bank demonstrated this during a major year for UK mortgage transactions as, during 2021, mortgages completions increased by 60% to £239m.

According to recent analysis by the Centre for Public Data, the number of titles (which covers land as well as residential and commercial property) in England and Wales owned by non-UK citizens has tripled since 2010 from 88,000 to just under 250,000 by August 2021.

Skipton Mortgage Manager Lorraine McLean welcomed the news of Skipton’s impressive response time and congratulated the team on achieving this in 2021.

She remarked: “The recent figures show that the Buy-To-Let market in the UK for overseas residents is growing at pace and it’s great to see that our team are keeping up with the demand. We appreciate that our overseas customers looking to buy property in the UK really value efficient decision-making and we’re delighted that we delivered such a strong response time last year.

“Our team have an intimate understanding of the UK Buy-To-Let market which gives us an edge when it comes to processing these specialised applications as efficiently as possible. When confronted with increasing demand for these kinds of property purchases, it makes all the difference that our customers aren’t left in the dark at the early stages of their mortgage application, no matter where they’re based.

“To get an estimate of what you may be able to borrow and likely monthly repayments, visit Skipton’s straight-forward and easy-to-use online mortgage calculator.