Skipton launches new fixed-rate mortgages

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Skipton launches new fixed-rate mortgages

Skipton Building Society has adjusted its fixed-rate mortgage range to reflect the recent changes in interest rates by the Bank of England.

The new range offers two-year, three-year, five-year, seven-year and ten-year deals, with rates starting at just 5.34 per cent.

With experts predicting at least one further rise in interest rates beyond the current 5.25 per cent base rate this year, Skipton's revised fixed-rate deals could prove popular among homeowners.

Colin Dale, head of lending at Skipton Building Society, said: "With the Bank of England's base rate steadily rising, the majority of borrowers are still looking to secure their monthly repayments by choosing a fixed rate mortgage.

"For example, for most first time buyers it is already an uphill struggle to get onto the property ladder and so when they find a mortgage, they want the security of knowing their repayments will remain the same for the entire term."

The new Skipton fixed-rate mortgages also offer flexible benefits such as daily interest, overpayments and payment holidays.

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