Skipton Building Society has cut the interest rates on its two-year base rate tracker mortgages by up to 0.50 percentage points.
New products include:
Two-year base rate tracker to 90% LTV
- Bank Base Rate (BBR) plus 3.89%, currently 4.39% (reduced by 0.50 percentage points);
- Application fee: £195, completion fee: £800;
Two-year base rate tracker to 85% LTV
- BBR plus 3.03%, currently 3.53% (reduced by 0.15 percentage points);
- Application fee: £195, completion fee: £800;
Two-year base rate tracker to 75% LTV
- BBR plus 2.18%, currently 2.68% (down 0.20 percentage points);
- Application fee: £195, completion fee: £800;
Criteria applicable to all of the above products”
- Early repayment charge: For two years, 1% of capital repaid and, after the product end date, interest to the end of the month;
- Overpayments of up to 10% per annum allowed without charge;
- Free standard legals and valuations available on all remortgage products.
These new products are available through the Society’s Skipton Direct customer service centre, branches and all intermediaries.
Kris Brewster, Skipton’s head of products, said: “Last week, we reduced interest rates on some of our residential and buy-to-let fixed rate mortgages, and are now taking the opportunity to follow suit with amendments to our trackers.
“Today’s reductions are a further signal of our intent to continue lending strongly during 2013.”