However, with numerous reports predicting a harder market for first time buyers to enter, Skipton has made it easier for them to get their feet on the property ladder, with the launch today of its new 2-Year Fixed Rate Mortgage, fixed at 4.99% with free MIG.
Key Features – 2-Year Fixed Rate Mortgage
* 4.99% fixed to 30 June 2006
Reverts to Society’s variable rate following fixed rate period, with 0.75% discount through Skipton’s concessionary Mortgage Discount Scheme (current pay rate of 5.34%) [see Editor’s Notes]
* Available up to 95% LTV with free MIG
* £250 cashback – irrespective of loan size [see Editor’s Notes]
* Guarantor option available [see Editor’s Notes]
* Free valuation (up to a property price of £500,000)
* Free accident, sickness and unemployment (ASU) cover for six months
* Flexible benefits – daily interest, overpayments and payment holidays
* £499 completion fee – can be added to the loan
* Early redemption charge of 3% of loan until 30 June 2006 and 2% to 30 June 2007
* Up to 10% capital repayments allowed each year, without charge, to 30 June 2007
* Interested borrowers should call 08457 171777 or visit their local branch for further information, as this loan is only available directly from the Society
Jennifer Holloway, head of media relations, commented, "There’s never a good time to buy your first house and, for the first time buyer in the current market, funding the purchase can be difficult. We understand that more and more are having to turn to their families to help secure a mortgage and so, by offering a generous guarantor facility on this new 2-Year Fixed Rate Mortgage, along with free MIG, £250 cashback and a free valuation, we are sure we can help many first time buyers onto the property ladder."
