Rates start from only 3.19%, meaning for a £100,000 repayment mortgage, initial monthly payments would only be £485.
Jennifer Holloway, head of media relations, commented, “The popularity of our previous 3-Year Stepped Discount Mortgage has led us to add two new discounted products to our range. With differing rates and terms, our three discounted mortgages cover all the bases, allowing borrowers to choose whichever best suits their situation. For example, our 4.99% 3-Year Discount offers unlimited overpayments and has no charges for paying off the loan early – great for someone whose job pays bonuses or who wants to repay their mortgage as quickly as possible. In addition, with Skipton’s Residential Standard Variable Rate currently one of the lowest on the market at 5.84%, borrowers get all round long-term value.”
Key features
- Flexible 3-Year Stepped Discount Mortgage – initial rate 3.19% (2.65% discount in year 1, 0.25% discount in years 2 and 3)
- Flexible 3-Year Discount Plus Mortgage – initial rate 4.79% (1.05% discount)
- Flexible 3-Year Discount Mortgage with no redemption penalty – initial rate 4.99% (0.85% discount)
- All mortgages revert to the Society’s residential SVR – currently 5.84% –
following discounted period
- Available up to 95% LTV with free MIG up to 90% LTV
- Free legal fees 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
- £399 application fee
- Early repayment charges:
Flexible 3-Year Stepped Discount Mortgage (3.19%) – 3% for 3 years
Flexible 3-Year Discount Plus Mortgage (4.79%) – 3% for 3 years
Flexible 3-Year Discount Mortgage (4.99%) – no early repayment charge
- Capital repayments of up to 10% of the original loan allowed each year, without charge, within early repayment charge period (unlimited repayments with the 4.99% 3-Year Discount Mortgage)
- Interested customers should call 08457 171777 or visit their local branch for further information
