Fixed rates start from 5.39 per cent and a capped rate mortgage with a discount extending to two years has an initial rate of 5.34 per cent. In addition the Stateside Tracker Mortgage has now returned to the intermediary product range with a current rate of 3.8 per cent.
All the mortgages revert to the society’s residential SVR, currently 6.09 per cent following fixed rate/tracker period or initial discount and are available up to 95 per cent LTV with free MIG up to 90 per cent LTV. There are also free legal fees through the Skipton Home Conveyancing plus free valuation on all residential remortgage cases up to a property value of £500,000.
Jennifer Holloway, head of media relations at Skipton, commented: “No matter what the Bank of England’s base rate is doing there will always be borrowers who need a fixed rate mortgage such as first-time buyers who have to keep a tight rein on their finances.”
She added: “We expect to see a lot of interest in our new fixed rate range. For those with more financial flexibility, who would benefit should the base rate fall, Skipton’s discount range also offers great deals.”
Gordon Steyn, mortgage operations director at Thinc, said: “The rates may be good but the local relationship which used to be strong is now almost non-existent so little or no business will be written by our London advisers.
“Lenders must put resources into BDMs and build relationships as well as offer attractive rates. Some of the Thinc advisers do not know who their local Skipton BDM is.”
