New two-year fixes from the Skipton

New two-year fixes from the Skipton

Skipton Building Society

Skipton Building Society has launched a new range of two-year fixed rate mortgages.

Rates have been reduced by up to 0.21 percentage points.

Product details:

Two-year fixed rate to 60% LTV

  • Interest rate: 3.38% (was 3.59%).

Two-year fixed rate to 75% LTV

  • Interest rate: 3.78% (was 3.89%).

Two-year fixed rate to 80% LTV

  • Interest rate: 3.88% (was 3.99%).

Two-year fixed rate to 85% LTV

  • Interest rate: 4.48% (was 4.58%).

Two-year fixed rate to 90% LTV

  • Interest rate: 5.58% (unchanged).

Criteria applicable to all of the above products:

  • Products fixed until 30 September 2014;
  • Application fee: £195, completion fee: £800;
  • Revert to: Bank Base Rate plus 4.45% (currently 4.95%);
  • Overpayments of up to 10% per annum allowed without penalty;
  • Free legals and valuations available for remortgages;
  • Early repayment charge: 3% of capital repaid plus interest to the end of the month.

These new products are available through the Society’s Skipton Direct customer service centre, branches and all intermediaries.

“The recent downward fluctuation in swap rates has enabled us to review our product range accordingly, and this latest launch is an example of how we are capitalising on the opportunity provided by such changes to offer even more competitive deals to our customers,” said Kris Brewster, Skipton’s head of products.

He added: “We now have an even stronger choice of product types, including fixes and trackers, over various terms and LTVs, to suit a range of circumstances. These include higher LTV options at up to 90%, which are designed to help people whose equity has been reduced by current market conditions.”