Skipton Building Society has cut the interest rates on a selection of its residential two, three and five-year fixed rate products.
The Society will also reduce rates on its three and five-year fixed rate buy-to-let products.
New products include the following:
Two-year residential fixes
- Two-year fixed rate to 80% LTV at 3.48% (was 3.68%) – purchase and remortgage
Application fee: £195, completion fee: £800;
- Two-year fixed rate to 85% LTV at 3.78% (was 3.98%) – purchase and remortgage
Application fee: £195, completion fee: £800;
- Two-year fixed rate to 85% LTV at 4.08% (was 4.18%) – purchase and remortgage
No application or completion fee;
- Two-year fixed rate to 90% LTV at 4.49% (was 4.99%) – purchase and remortgage
Application fee: £195, completion fee: £800.
Three-year residential fixes
- Three-year fixed rate to 60% LTV at 3.08% (was 3.39%) – purchase and remortgage
Application fee: £195, completion fee: £800;
- Three-year fixed rate to 75% LTV at 3.38% (was 3.55%) – purchase and remortgage
Application fee: £195, completion fee: £800;
- Three-year fixed rate to 75% LTV at 3.58% (was 3.75%) – purchase and remortgage
No application or completion fee;
- Three-year fixed rate to 80% LTV at 3.68% (was 3.89%) – purchase and remortgage
Application fee: £195, completion fee: £800;
- Three-year fixed rate to 85% LTV at 4.18% (was 4.49%) – purchase and remortgage
Application fee: £195, completion fee: £800;
- Three-year fixed rate to 85% LTV at 4.38% (was 4.59%) – purchase and remortgage
No application or completion fee;
- Three-year fixed rate to 90% LTV at 4.78% (was 5.49%) – purchase and remortgage
Application fee: £195, completion fee: £800.
Five-year residential fixes
- Five-year fixed rate to 75% LTV at 3.58% (was 3.78%) – purchase and remortgage
Application fee: £195, completion fee: £800;
- Five-year fixed rate to 75% LTV at 3.88% (was 3.98%) – purchase and remortgage
No application or completion fee;
- Five-year fixed rate to 85% LTV at 4.28% (was 4.48%) – purchase and remortgage
Application fee: £195, completion fee: £800;
- Five-year fixed rate to 85% LTV at 4.58% (was 4.68%) – purchase and remortgage
No application or completion fee;
- Five-year fixed rate to 90% LTV at 4.98% (was 5.59%) – purchase and remortgage
Application fee: £195, completion fee: £800.
Buy-to-let Products
- Buy-to-let three-year fixed rate to 70% LTV at 3.99% (was 4.19%) – purchase and remortgage
Application fee: £245, completion fee: £750;
- Buy-to-let three-year fixed rate to 75% LTV at 4.29% (was 4.49%) – purchase and remortgage
Application fee: £245, completion fee: £1,250;
- Buy-to-let five-year fixed rate to 70% LTV at 4.29% (was 4.49%) – purchase and remortgage
Application fee: £245, completion fee: £750;
- Buy-to-let five-year fixed rate to 75% LTV at 4.59% (was 4.79%) – purchase and remortgage
Application fee: £245, completion fee: £1,250.
Criteria applicable to all of the above products:
- Fixed until 28 February 2015 (two-year fixes), 28 February 2016 (three-year fixes) and 28 February 2018 (five-year fixes);
- Early repayment charges: 3/2% of capital repaid and, after the product end date, interest to the end of the month (two-year fixes); 4/3/2% (three-year fixes); 5/5/4/3/3 (five-year fixes);
- 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: “We’re constantly monitoring the marketplace and adjusting our products and interest rates to ensure they remain among the most attractive available.
“These newly reduced rates signal our intent to continue where we left off in 2012 -lending strongly to enable more people to buy their desired homes wherever possible. We are particularly excited to be reducing rates on our 90% LTV products, with rates starting from 4.49% this will really help to support first time and next time buyers with 10% deposits.”