Skipton Building Society has introduced new fixed rate products to its mortgage range.
Product details are as follows:
Two-year fixed rate to 50% LTV
- Interest rate: 2.55%, fixed until 28 February 2015;
- Early repayment charge: 3/2% of capital repaid plus interest to the end of the month until 28/02/15.
Five-year fixed rate to 50% LTV
- Interest rate: 3.35%, fixed until 28 February 2018;
- Early repayment charge: 5/5/5/4/3% of capital repaid plus interest to the end of the month until 28/02/18.
Criteria applicable to both of the above products:
- Application fee: £195, completion fee: £800;
- Available for purchases and remortgages;
- Free legals and valuations available for remortgages;
- Revert to Mortgage Variable Rate, currently set at 5.49%.
These new products are available from the Society’s Skipton Direct telephone service centre, our branches and all intermediaries.
“We’re delighted to offer these market leading new deals to reward borrowers who have built up a substantial pot of equity,” said head of products Kris Brewster.
“The majority of low LTV deals in the market are to 60% LTV but at Skipton we believe that we should also recognise people who have paid off even more of their mortgage and, in this instance, we are choosing to reward those that have hit the major milestone of 50% equity in their home.
“They add an extra dimension to the varied options we already offer to suit the needs of a wide range of borrowers, including deals at up to 90% LTV for people who don’t have quite such high deposits.”