This means, based on a £80,000 repayment mortgage, borrowers could make fixed monthly payments of just £431 for three years.
Key features – Flexible 3-Year Fixed Rate Mortgage
- 4.19% fixed until 30 November 2006
- Reverts to Society’s variable rate following fixed rate period (currently 5.49%) with 0.75% discount from 30 November 2006 onwards through the Society’s concessionary Mortgage Discount Scheme (meaning a current pay rate of 4.74%)
- Available up to 95% LTV – with free MIG up to 90% LTV
- Cashback of 0.5% of loan on completion (maximum of £2,000) or free legal fees for remortgages in England and Wales (£250 cashback in Scotland)
- Free accident, sickness and unemployment (ASU) cover for six months
- Free valuation fee – up to a maximum purchase price/property value of £500,000
- Flexible benefits – daily interest, overpayments and payment holidays
- £395 completion fee – can be added to the loan
- Early redemption fee of 3% to 30 November 2006
- Up to 10% capital repayments allowed each year, without charge until 30 November 2006
- Interested customers should call 08457 171755 or call into their local Skipton branch for further information
Jennifer Holloway, head of media relations, commented, “Shorter-term fixed rates are still incredibly popular with borrowers and at 4.19 per cent, this 3-year fixed rate is an attractive addition to that market.”
