This includes its 2-year, 3-year, 5-year, 7-year and 10-year fixed rate mortgages.
Colin Dale, head of lending at Skipton Building Society, commented: “No matter what the Bank of England’s base rate is doing, the majority of borrowers are still looking to secure their rate by choosing a fixed rate mortgage. They are particularly popular with first-time buyers or couples with young families who have to keep a tight rein on their finances. At 5.09%, our 2-Year Fixed Rate Mortgage is particularly attractively priced, as are the 7-year and the 10-year options for borrowers who would like to freeze repayments for much longer.”
Key features – Fixed Rate Mortgage Range
2-Year Fixed Rate Mortgage (direct only) – fixed at 5.09% to 31 January 2009 for loans up to 95% loan-to-value (LTV)
3-Year Fixed Rate Mortgage – fixed at 5.29% to 31 January 2010 for loans up to 75% LTV
3-Year Fixed Rate Mortgage – fixed at 5.39% to 31 January 2010 for loans up to 95% LTV
5-Year Fixed Rate Mortgage – fixed at 5.29% to 31 January 2012 for loans up to 75% LTV
5-Year Fixed Rate Mortgage – fixed at 5.39% to 31 January 2012 for loans up to 95% LTV
7-Year Fixed Rate Mortgage – fixed at 5.14% to 31 January 2014 for loans up to 75% LTV
7-Year Fixed Rate Mortgage – fixed at 5.24% to 31 January 2014 for loans up to 75% LTV
10-Year Fixed Rate Mortgage – fixed at 5.14% to 31 January 2017 for loans up to 75% LTV
10-Year Fixed Rate Mortgage – fixed at 5.24% to 31 January 2017 for loans up to 95% LTV
- All revert to the Society’s residential SVR – currently 6.39% – after fixed rate period
- Higher Lending Charge applicable for customers taking out loans between 90% - 95% LTV
- Free legal fees (through Skipton Home Conveyancing Service) and free valuation on all residential remortgage cases
- Flexible benefits – daily interest, overpayments and payment holidays
- Capital repayments of up to 10% of the original loan allowed each year, without charge, within fixed rate period
2-Year Fixed Rate Mortgage – 3% to 31 January 2009
3-Year Fixed Rate Mortgage – 5% to 31 January 2008, 4% to 31 January 2009 and 3% to 31 January 2010
5-Year Fixed Rate Mortgage – 5% to 31 January 2008 4% to 31 January 2009 and 3% to 31 January 2012
7-Year Fixed Rate Mortgage – 5% to 31 January 2008, 4% to 31 January 2009, 3% to 31 January 2012 and 2% to 31 January 2014
10-Year Fixed Rate Mortgage – 5% to 31 January 2009, 4% to 31 January 2011, 3% to 31 January 2013, 2% to 31 January 2015 and 1% to 31 January 2017
No application fee on any product
£499 completion fee for the 2-year, 3-year, 5-year and 10-year fixed rate mortgages
There are two options for the 7-Year Fixed Rate Mortgage up to 75% LTV; the first option fixed at 5.14% with a completion fee of £799 and the second option fixed at 5.24% with a completion fee of £499
All completion fees can be added to the loan
