Skipton mortgages rolled out

www.moneynews.co.uk > Mortgages > Skipton mortgages rolled out

Skipton mortgages rolled out

Fri 9th Mar 2007

Skipton Building Society has announced the launch of a new three and five-year base rate tracker capped mortgage.

The three-year mortgage, possessing a current interest rate of 5.55 per cent, tracks the Bank of England base rate plus 0.30 per cent for three years and will also be capped at 5.99 per cent.

Skipton's five-year mortgage will be tracking the base rate at plus 0.35 per cent for the duration and repayment levels are currently set at 5.60 per cent.

Both Skipton mortgages are available at up to 95 per cent loan-to-value, with no higher lending charges applying for up to 90 per cent.

They also give a great deal of flexibility to the homeowner, allowing for overpayments and payment holidays.

Colin Dale, head of Skipton Building Society, said that both packages would give homeowners confidence that their repayment rate will never surpass 5.99 per cent.

"This is coupled with the benefit that the rate will fall if, as predicted, we see future decreases in the base rate. Plus, the great starting rates definitely tick all the boxes for borrowers working within a budget," he added.

Related News : Mortgages
	Brits 'failing to grasp the importance of an interest in mortgages'
	BBA highlights mortgage lending growth
	Are interest-free mortgages a bad idea?
	Buy-to-let mortgages are 'more profitable'
	House price performance to impact lenders' criteria
	More Brits 'to choose long-term mortgages'
	Offset mortgages 'are the future'
	UK house prices 'set to fall'
	Hybrid mortgages 'are a good deal' for FTBs
	UK public expects house price increase