Skipton Building Society has launched three new limited edition mortgages, two aimed at people with lower LTVs who are looking to remortgage, and one at first and next time buyers with smaller deposits.
Key product details:
- Two-year fixed rate to 60% LTV – Interest rate 2.39%, with no application or completion fee.
- Three-year fixed rate to 60% LTV – Interest rate 2.78%, with no application or completion fee.
- Two-year fixed rate to 90% LTV – Interest rate 3.99%, with a £499 completion fee (this product replaces Skipton’s current 90% deal at 4.19% with £195 application fee and £800 completion fee).
Criteria applicable to all of the above products:
- Fixed until 31 January 2016 (two-year fixes) and 31 January 2017 (three-year fixes);
- Early repayment charges: 3/2% (two-year fixes) and 4,3,2% (three-year fixes) 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 for remortgages.
This 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: “We like to keep our range fresh and interesting, and this sometimes involves us launching special, limited edition products such as these.
“The recent launch of the Help to Buy scheme is designed to help first time buyers with smaller deposits but there are still very few products available at 95% LTV.
“However, we believe that offering very attractive rates at 90% LTV could be a real benefit for those who are able to save up to a 10% deposit, especially as the rates are a lot lower than at 95% LTV. Our new 2 Year Fixed Rate to 90% LTV, at 3.99%, is one of the lowest rates available, especially in the intermediary market.
“It is a signal of the Society’s ongoing commitment to helping first and next time buyers.”
He added: “Meanwhile, at the other end of the spectrum, our new 60% LTV products are fee free, to make remortgaging to Skipton as easy and affordable as possible for people within this bracket.
“These latest offerings complement our existing, varied range which includes products catering for differing LTV and fee needs, as well as Buy to Let mortgages for property investors.
“These special edition products will be available for a limited time only and we expect them to prove popular, so would urge people not to delay getting in touch.”