Jennifer Holloway, head of media relations, commented, “The introduction of Skipton’s new, low residential standard variable rate (SVR) prompted us to carry out a review of our mortgage range. Apart from our ever-popular Stateside Tracker and buy-to-let mortgages, an entirely new portfolio of products has been launched. The variety of loans on offer means that, whatever a borrower’s needs – be they a first time buyer or someone remortgaging their home wanting free legals and valuation – we have something to suit.”
Key features of new products
Skipton’s new mortgage range includes:
· Flexible 3-Year Fixed Rate Mortgage – 5.69% fixed until 30 September 2007
· Flexible 5-Year Fixed Rate Mortgage – 5.79% fixed until 30 September 2009
· Flexible 3-Year Capped Rate Mortgage – initial rate 4.99% (capped at 5.75%)
· Flexible 3-Year Stepped Discount Plus Mortgage – initial rate 3.59%
· Flexible 3-Year Stepped Discount Mortgage – initial rate 3.99%
· Flexible Base Rate Tracker Plus Mortgage – initial rate 4.50%
· Flexible Base Rate Tracker Mortgage – initial rate 4.74%
· Cashback Mortgage – current residential SVR 5.59% (3% cashback)
· All mortgages revert to the Society’s residential SVR – currently 5.59% –
following fixed rate/tracker period or initial discount
· Available up to 95% LTV with free MIG up to 90% LTV, except the 5.39% 2-Year Fixed Rate Mortgage, which has free MIG up to 95% LTV
· Free legal fees through Skipton Home Conveyancing Service plus free valuation on all residential remortgage cases up to a property value of £500,000
More…
· Free accident, sickness and unemployment (ASU) cover for six months
· Flexible benefits – daily interest, overpayments and payment holidays
· £100 application fees on 3-Year and 5-Year Fixed Rate Mortgages, Base Rate Tracker and Base Rate Tracker Plus Mortgages (plus a completion fee)
· Completion fees range from £299 to £499
· Early repayment charges, up to a maximum of 5% of the original loan, apply on all products except the Base Rate Tracker Mortgage
· Capital repayments of up to 10% of the original loan allowed each year, without charge, within fixed rate, capped, tracker or discounted period (unlimited repayments with Base Rate Tracker Mortgage)
· Interested brokers should call 08706 061621 or visit www.skipton-intermediaries.co.uk for further information
