Skipton Building Society has today launched two new direct mortgages.
Key Product Details:
Two-year fixed rate to 90% LTV
Interest rate: 5.58%;
Fixed until: 30 September 2014.
Two-year base rate tracker to 75% LTV
Interest rate: 3.49% (Bank Base Rate plus 2.99%);
Until: two years from completion.
Criteria applicable to both of the above products:
Application fee: £195, completion fee: £800;
Early repayment charge: 3% plus interest to the end of the month during product term;
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.
These new products are available through the Society’s Skipton Direct customer service centre and branches.
“With some market speculation that Bank Base Rate could remain at its current level until well into 2013, we’ve seen some increase in demand for tracker products, and we’re catering for this by adding another product to our range,” said Skipton’s head of products, Kris Brewster.
“We’re also continuing to provide as much help as we can for people with reduced deposits, by making one of our new deals available at up to 90% LTV.
“All of these new products complement our varied existing range, which provides for people with a range of deposit sizes and needs, whether they prefer fixed or variable products, short or longer mortgage terms and are purchasing their own home, or investing in property.”