The Skipton Building Society has launched a new range of mortgages.
Key deals are as follows:
2 Year Fixes:
- Two-year fix to 60% LTV (high fee) at 1.74% (new product);
- Two-year fix to 60% LTV at 1.89% (was 1.99%);
- Two-year fix to 60% LTV (no fee) at 2.39% (no change);
- Two-year fix to 70% LTV at 1.99% (was 2.09%);
- Two-year fix to 75% LTV (high fee) at 1.99% (new product);
- Two-year fix to 75% LTV at 2.38% (completion fee £300);
- Two-year fix to 75% LTV (no fee) at 2.58% (no change);
- Two-year fix to 80% LTV at 2.58% (was 2.68% – completion fee reduced from £800 to £300);
- Two-year fix to 85% LTV (high fee) at 2.99% (new product);
- Two-year fix to 85% LTV at 3.28% (was 3.38% – completion fee reduced to £300);
- Two-year fix to 85% LTV (no fee) at 3.58% (was 3.68%);
- Two-year fix to 90% LTV at 3.79% (new product);
- Two-year fix to 90% LTV at 3.99% (application fee £195, completion fee £800);
- Two-year fix to 90% LTV (with £160 cashback and no fee) at 3.99% (no change).
3 Year Fixes:
- Three-year fix to 60% LTV (no fee) at 2.68% (was 2.78%);
- Three-year fix to 75% LTV at 2.58% (was 2.68%);
- Three-year fix to 75% LTV (no fee) at 2.88% (was 2.98%);
- Three-year fix to 80% LTV at 3.09% (was 3.19% – completion fee reduced to £300 from £800);
- Three-year fix to 85% LTV at 3.58% (was 3.68% – completion fee reduced to £300 from £800);
- Three-year fix to 85% LTV (no fee) at 3.88% (was 3.98%);
- Three-year fix to 90% LTV at 4.28% (was 4.38%).
5 Year Fixes:
- Five-year fix to 75% LTV at 3.39% (was 3.59%);
- Five-year fix to 75% LTV (no fee) at 3.59% (was 3.79%);
- Five-year fix to 85% LTV at 3.98% (no change);
- Five-year fix to 85% LTV (no fee) at 4.28% (no change);
- Five-year fix to 90% LTV at 4.68% (no change).
2 Year Trackers:
- Two-year tracker to 80% LTV at 2.38% (was 2.48% – completion fee reduced to £300 from £800);
- Two-year tracker to 85% LTV at 3.08% (completion fee reduced to £300 from £800);
- Two-year tracker to 90% LTV at 3.89% (was 3.99%).
2 Year Discounted Rates:
- Two-year discount on our Mortgage Variable Rate (MVR) to 75% LTV, at 2.48% (was 2.58%);
- Two-year discount on our MVR to 90% LTV, at 3.89% (completion fee reduced to £300 from £800).
Buy to Let Products:
- BTL 2 Year Fix to 70% LTV at 3.38% (was 3.48%);
- BTL 2 Year Fix to 75% LTV at 3.58% (was 3.68%);
- BTL 3 Year Fix to 70% LTV at 3.69% (was 3.79%);
- BTL 3 Year Fix to 75% LTV at 3.89% (was 3.99%);
- BTL 5 Year Fix to 70% LTV at 4.29% (no change);
- BTL 5 Year Fix to 75% LTV at 4.59% (was 4.69%).
Buy-to-Let Tracker Products:
- BTL 2 Year Tracker to 70% LTV at 3.29% (was 3.39%);
- BTL 2 Year Tracker to 75% LTV at 3.49% (was 3.59%).
Criteria applicable to the above products:
- Application and completion fees for residential products, unless otherwise stated above: £195, completion fee: £800 (apart from no fee and high fee products);
- Application and completion fees for high fee products: £195 application fee and £1,800 completion fee;
- Application and completion fees for Buy-to-let products: £245 application fee and £750 completion fee;
- Fixed until 31 March 2016 (two-year fixes), 31 March 2017 (three-year fixes) and 31 March 2019 (five-year fixes);
- Early repayment charges: 3/2% (two-year fixes); 4,3,2% (three-year fixes); 5,5,5,4,3% (five-year fixes) and 1% over two-years for tracker and discounted products, 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.
These new products are available through the Society’s Skipton Direct customer service centre, branches and all intermediaries, apart from the two-year fix to 90% LTV with £160 cashback, which is only available direct from the Society.
The mutual’s two former two-year fixes to 60% (2.09%) and 70% (2.19%) LTV, with free valuations, have been withdrawn.
Kris Brewster, Skipton’s head of products, said: “We’re delighted to launch this new range, which we believe continues our strong track record of catering for a wide range of borrower needs in a competitive way.
“We’ve tried to be creative in increasing the choice we offer borrowers, with a variety of high, low and fee free options – as well as solutions for people with different levels of equity and deposits.
“The introduction of the high fee/low rate products to our range is a new move for the Society, and we hope these will appeal to people borrowing larger sums, for whom this can represent a really good value option.”