Skipton Building Society is re-pricing some of its two, three and five year fixed rate residential mortgage range.
The Society has decided to increase the rates on some of the range to help manage demand.
Paul Darwin, Skipton’s head of intermediary sales, said: “Customer service is central to our proposition. Skipton prides itself on offering competitive products, and this is demonstrated by the 182 independent best buy recommendations that we’ve had so far this year for our mortgage range.
“However we will never lose sight of doing the best for our customers. And at the moment due to the very high demand for our products, our strict internal goals on service levels are at risk. We do not believe that it is appropriate to compromise service to existing pipeline customers by continuing to take on the current unprecedented high volumes of new business that we are experiencing.
“As a responsible and transparent business, we’re making this move to ensure our customers and broker partners going through the process of securing a Skipton mortgage remain our priority. It’s simply the right thing to do.”
Key product details:
Two-year fixes:
- 2 Year Fixed to 60% LTV 2.49% £995 fee (was 1.99%)
- 2 Year Fixed to 60% LTV 2.99% No fee (was 2.49%)
- 2 Year Fixed to 70% LTV 2.59% £995 fee (was 2.09%)
- 2 Year Fixed to 75% LTV 2.79% £495 fee (was 2.38%)
- 2 Year Fixed to 80% LTV 3.29% £495 fee (was 2.58%)
- 2 Year Fixed to 80% LTV 3.09% £995 fee (was 2.38%)
- 2 Year Fixed to 85% LTV 3.69% £495 fee (was 3.49%)
Three-year fixes:
- 3 Year Fixed to 60% LTV 3.08% No fee (was 2.78%)
- 3 Year Fixed to 75% LTV 3.08% £995 fee (was 2.58%)
- 3 Year Fixed to 75% LTV 3.28% No fee (was 2.88%)
- 3 Year Fixed to 80% LTV 3.59% £495 fee (was 3.09%)
- 3 Year Fixed to 85% LTV 3.89% £495 fee (was 3.46%)
- 3 Year Fixed to 85% LTV 4.09% No fee (was 3.65%)
- 3 Year Fixed to 90% LTV 4.69% £995 fee (was 4.39%)
Five-year fixes:
- 5 Year Fixed to 75% LTV 3.64% £995 fee (was 3.44%)
- 5 Year Fixed to 75% LTV 3.84% No fee (was 3.64%)
- 5 Year Fixed to 85% LTV 4.28% £995 fee (was 4.08%)
- 5 Year Fixed to 85% LTV 4.53% No fee (was 4.33%)
- 5 Year Fixed to 90% LTV 5.09% £995 fee (was 4.99%)
Criteria applicable to all of the above products
- Early repayment charges of 3/2% until 31/08/16 (two-year fixes); 4/3/2% until 31/08/17 (three-year fixes) and 5/5/5/4/3% until 31/08/19 (five-year fixes), of capital repaid then interest to the end of the month;
- Overpayments of up to 10% per annum allowed without penalty;
- Available for purchases and remortgages;
- Free standard legals and valuations for remortgages.
These above products are all available through the Society’s Skipton Direct customer service centre, branches and all intermediaries.