Key New Product Details
10 Year Fixed Rate to 75% LTV
• Interest rate: 4.79% until 30/09/22;
• Early repayment charge: 6/6/5/5/5/5/4/3/3/2% of capital repaid plus interest to the end of the month;
• Application fee: £195, completion fee: £800;
• Revert to: Bank Base Rate plus 4.45% (currently 4.95%);
• Overpayments of up to 10% per annum allowed without penalty;
• Free legals and valuations for re-mortgages.
This new product is available through the Society’s Skipton Direct customer service centre, branches and all intermediaries. Skipton's other 10-year fix at 4.99% to 85% LTV which was launched at the same time remains available as do the society’s 7-year fixes starting from 4.29% to 75% LTV.
Skipton’s head of products Kris Brewster said: “Our longer term fixes have proved extremely popular, with the payment security they offer clearly appealing to people in the ongoing, uncertain market.
“Our available tranches filled up very quickly resulting in the replacement of our 7-year fixed rate to 75% a week ago and now our lower LTV 10-year fix. As with our7-year fix we believe we’ve replaced the 10-year product with a rate which continues to reflect great value for people looking for certainty over their future mortgage payments.”
