Skipton Building Society launches low-deposit mortgage
www.moneynews.co.uk > Mortgages > Skipton Building Society launches low-deposit mortgage
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Money News |
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Skipton Building Society launches low-deposit mortgage
Thu 5th May 2011
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The two-year fixed rate scheme, which offers a loan to value (LTV) of 5.99 per cent comma plans to cater to buyers struggling to raise large deposits.
Prospective purchasers will be asked to pay £195 with no completion fee for the new deal.
Re-mortgage customers will be offered free valuation and legal fees as part of the mortgage, which represents a reduction of 0.5 per cent on alternative mortgage rates.
Skipton's head of products Kris Brewster said: "This new 95 per cent LTV product follows on from our relaunch back into this market last year and is a big reduction on the previous products we had available."
Meanwhile, interest rates on borrowing were left unchanged by the Monetary Policy Committee, with a number of experts claiming the economy is too fragile to contend with a rise in rates at this time.
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