Key Product Details
7 Year Fixed Rate to 75% LTV
• Interest rate: 3.99% until 30/09/19;
• Early repayment charge: 5/5/5/4/3/3/2% of capital repaid plus interest to the end of the month.
7 Year Fixed Rate to 85% LTV
• Interest rate: 4.89% until 30/09/19;
• Early repayment charge: 5/5/5/4/3/3/2% of capital repaid plus interest to the end of the month.
10 Year Fixed Rate to 75% LTV
• Interest rate: 4.49% 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.
10 Year Fixed Rate to 85% LTV
• Interest rate: 4.99% 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.
Criteria applicable to all of the above products
• 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.
These new products are available through branches and all intermediaries.
Skipton’s head of products Kris Brewster said: “Market swap rates remain unusually low. Therefore, we’ve seized the opportunity to provide these really competitive longer term deals, for people whose priority is having certainty over their monthly mortgage payments for the longer term.
“These kinds of rates on long term mortgage products would have been unheard of just a few years ago and therefore, we believe, they really do represent a golden window of opportunity for savvy borrowers.”
