Skipton Building Society updates lending policy on flats

Skipton Building Society has made changes to its lending criteria, altering its lending policy for non-standard flats.

As part of the changes, the minimum value for non-standard flats has been reduced from £150,000 to £100,000 for flats outside of Greater London.

The minimum value remains at £300,000 for flats in Greater London.

Jonathan Evans, senior national account lead at Skipton Building Society, said: “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.”