Skipton improve capped rate mortgage deal
24 August 2005
Skipton Building Society has launched an improved 3-Year Capped Rate Mortgage with a reduced cap, increased discounts and a new attractive initial rate.

Borrowers choosing this mortgage will currently pay only 4.64% for their first year, along with the guarantee that their rate will not exceed 4.99% until 31 October 2008 – one of the lowest capped rates on the market.

Jennifer Holloway, head of media relations at Skipton Building Society, commented, "Earlier in 2005, market predictions were that the next rate movement could be up, but it was, of course, down. However, as minutes of the MPC meeting revealed a split of opinion on the recent rate cut, consumers could be forgiven for being unsure what the future may bring for UK rates. The benefit of Skipton’s 3-Year Capped Rate Mortgage is, whatever happens, borrowers can budget safe in the knowledge that the highest their rate will be for the next three years is only 4.99%, whilst enjoying the benefit of reduced payments should UK rates fall."

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