Skipton Building Society fixed-rate mortgages relaunched
www.moneynews.co.uk > Mortgages > Skipton Building Society fixed-rate mortgages relaunched
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Money News |
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Skipton Building Society fixed-rate mortgages relaunched
Mon 27th Nov 2006
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The lowest interest rate is 5.09 per cent for the Skipton Building Society two-year fixed-rate mortgage and this rises to 5.39 per cent for both the three-year and five-year fixed-rate mortgages that come with 95 per cent loan to value.
After the fixed-rate period is up - January 31st of each year from now up until 2017 for the Skipton Building Society ten-year fixed-rate mortgage - the interest rate on all of the products reverts to the variable rate which is currently 6.39 per cent.
Colin Dale, head of lending at Skipton Building Society, said: "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."
"At 5.09 per cent, our two-year fixed-rate mortgage is particularly attractively priced, as are the seven-year and the ten-year options for borrowers who would like to freeze repayments for much longer."
The Skipton Building Society two-year fixed-rate mortgage is only available by phone or from the branch and the society will pay any higher lending charge incurred for loans up to 90 per cent loan to value.
With assets of around £9.9 billion, the Skipton Building Society is presently the seventh largest in the UK.
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