Brokers now have the choice of the 3-Year Fixed Rate Mortgage at 5.19% or the 5-Year Fixed Rate Mortgage at 5.29%.
Paul Darwin, head of intermediary sales at Skipton Building Society, commented, “Although the Bank of England held interest rates at 4.75% last week, it is widely predicted that we will soon see a further rise to 5.0%. For those on tight budgets, any increase in repayments can make a difference and so getting a fixed rate mortgage offers peace of mind. Our fixed rate mortgage range offers 3-year and 5-year loans and, in addition, with Skipton’s Residential Standard Variable Rate currently one of the lowest on the market at 6.09%, borrowers get all round long-term value.”
Key features
-Flexible 3-Year Fixed Rate Mortgage – 5.19% fixed until 28 February 2008
-Flexible 5-Year Fixed Rate Mortgage – 5.29% fixed until 28 February 2010
- All mortgages change to the Society’s residential SVR – currently 6.09% – following fixed rate period
- Available up to 95% LTV with free MIG up to 90% LTV
- Free legal fees and free valuation through Skipton Home Conveyancing Service on all residential remortgage cases
- Free accident, sickness and unemployment (ASU) cover for six months
- Flexible benefits – daily interest, overpayments and payment holidays
- Capital repayments of up to 10% of the original loan allowed each year, without charge, within early repayment charge period
- £100 application fee – payable upfront and non-refundable
- £299 completion fee – can be added to the loan
- Early repayment charges:
Flexible 3-Year Fixed Rate Mortgage – 5% until 28 February 2006, 4% until 28 February 2007 and 3% until 28 February 2008
Flexible 5-Year Fixed Rate Mortgage – 5% until 28 February 2006, 4% until 28 February 2007 and 3% until 28 February 2010
