Skipton, the 7th largest
building society and
financial services provider in the UK, is to increase competition in the
mortgage market even further with a new range of
mortgage deals announced today.
Skipton will launch a variety of new 2 year, 3 year and 5 year fixed rate mortgages.
The
rates are extremely competitive, with the lowest being just 4.45%. Borrowers opting for this package on a repayment
loan of £100,000 could find themselves repaying just £553 per month. The move further seals Skipton as one of the most competitive
mortgage lenders on the market.
Experts from Skipton said that the products were aimed at borrowers who, regardless of
Bank of England base rates, valued knowing what their mortgage
repayments would be. Borrowers can choose to freeze their repayments for 2, 3 and 5 year periods. Skipton were confident of their products place in the market.
The 2 year
fixed rate mortgage remains at 4.45% until April 2008, the 3 year fixed rate mortgage remains at 4.74% until 30 April 2009 and the 5 year fixed rate mortgage remains at 4.74% until 30 April 2011. The mortgage deals are available at an
LTV (Loan to Value) up to 95%. Skipton also offers free legal fees and valuation for
remortgage customers. Furthermore, the packages are flexible and allow overpayment and even payment holidays.
