The society’s online DIP includes an affordability calculator and borrowers can also record the type of loan they require, check whether they can afford the repayments and discover how much they are allowed to borrow.
If applicants pass the first stage of the process, a full credit check is then carried out and, if successful, a DIP is given. Subject to the information provided in the original application remaining unchanged, the DIPs remain valid for three months.
Kris Brewster, head of products at Skipton, said: “We understand that buying a home can be a complicated and time consuming process and that’s why we’ve worked hard this year, to make arranging a mortgage as straightforward and affordable as possible.
“This latest enhancement to our quality, personal service will complement our selection of mortgages in helping to open up doors for people with a range of circumstances.
“Obtaining a mortgage decision in principal is never going to be positive for everyone who applies, but this efficient new facility will ensure they know where they stand more quickly and can continue their search elsewhere if necessary.”
