Skipton reduces selected higher LTV rates by up to 0.20%
Skipton Building Society has reduced interest rates on some of its two and three-year fixed rate mortgages by up to 0.20%.
The products, at 80% and 85% LTV, will now boast rates as low as 2.68%, to help people with lower deposits and equity to secure a more competitive deal.
The Society is also extending availability of its other attractive fixed rate range by extending end dates on all two, three and five year fixed rates to 31 January 2016, 17 and 19 respectively.
Key product details
2 Year Fixed Rate to 80% LTV
Interest rate 2.68% (was 2.88%, down 0.20%) - purchase and remortgage
2 Year Fixed Rate to 85% LTV
Interest rate 3.38% (was 3.58%, down 0.20%) - purchase and remortgage
2 Year Fixed Rate to 85% LTV (no fee)
Interest rate 3.68% (was 3.88%, down 0.20%) - purchase and remortgage
3 Year Fixed Rate to 80% LTV
Interest rate 3.19% (was 3.28%, down 0.09%) - purchase and remortgage
3 Year Fixed Rate to 85% LTV
Interest rate 3.68% (was 3.88%, down 0.20%) - purchase and remortgage
3 Year Fixed Rate to 85% LTV (no fee)
Interest rate 3.98% (was 4.18%, down 0.20%) - purchase and remortgage
Application fee: £195, completion fee: £800 (fee paying products only);
Fixed until 31 January 2016 (two-year fixes) and 31 January 2017 (three-year fixes);
Early repayment charges: 3/2% (two-year fixes) and 4,3,2% (three-year fixes) of capital repaid and, after the product end date, interest to the end of the month;
Overpayments of up to 10% per annum allowed without charge;
Free standard legals and valuations available for remortgages.
This new products are available through the Society's Skipton Direct customer service centre, branches and all intermediaries.
Rates on the remainder of our range are unchanged, including our selection of Buy to Let two, three and five-year fixes.
Kris Brewster, Skipton's Head of Products, said: "We've been seeing positive signs in the housing market over the year so far, and this is gradually feeding in to more solid house prices.
"For some time now, the market's most competitive deals have focused on the lowest LTVs, at around 60% and 75%. However, we felt that the renewed confidence which is starting to filter through provided an ideal opportunity to extend lower rates to LTVs up to 85%, by making some our two and three-year products even more attractive.
"We hope this will support both first time buyers and existing home owners who have maybe been hit by the impact of the credit crunch on the value of their home over the past few years, but have seen their equity return to a more robust level over recent times.
"This complements our existing mortgage range, which aims to offer attractive deals to suit a range of circumstances."
For more information, visit skipton.co.uk.