This is equivalent to initial monthly payments of £528 for a £100,000 repayment mortgage over a 25-year term.
Jennifer Holloway, head of media relations at Skipton Building Society, commented: “Feedback from our branches and brokers alike is that fixed rate mortgages are still the loan of choice for many borrowers. Adding to the choice we have on offer, our new
three-year fixed rate mortgage sets repayments at 3.99 per cent until April 2009, when it reverts to our SVR - one of the industry’s lowest.”
Key features – Three-Year Fixed Rate Mortgage
*Three-Year Fixed Rate Mortgage – fixed at 3.99 per cent to 31 March 2009
*Early repayment charge of 5 per cent to 31 March 2007, 4 per cent to 31 March 2008 and 3 per cent to 30 September 2011
*Reverts to the Society’s residential SVR – currently 5.89 per cent – after fixed rate period
*Available up to 95 per cent LTV with free MIG/Higher Lending Charge up to 90 per cent LTV
*Free legal fees (through Skipton Home Conveyancing Service) and free valuation 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 per cent of the original loan allowed each year, without charge, within early repayment charge period
*£100 application fee – payable upfront and non-refundable
*£349 completion fee – can be added to the loan
