Jennifer Holloway, head of media relations at Skipton Building Society, said: “For borrowers looking to set their repayments for the medium-term, our three-year and five-year fixed rate deals will fit the bill – especially as one has no higher lending charge – to help ease the costs involved in buying a home.”
Ray Boulger, senior technical manager at John Charcol, commented: “Skipton’s new fixed rate range is reasonably competitive. The five-year deal is a good option for anyone considering remortgaging, depending on the size of the property and of the mortgage, and both the three and five-year offers are reasonably valued.
“In the case of the five-year deal it is close to being a market-leader and with the ‘freebies’ is a worthwhile option.”
Key features of the range include the static rate of 4.59 per cent until October 2008 or 2010. The three-year fixed rate option with no higher lending charge to 95 per cent LTV operates at a fixed rate of 5.19 per cent.
All of the deals revert to Skipton’s residential SVR when the fixed rate expires. It currently stands at 5.89 per cent.
Flexible benefits are also available such as daily interest, overpayments and payment holidays in addition to free legal fees (through Skipton Home Conveyancing Service) and accident, sickness and unemployment cover for six months.
