Skipton lowers interest rates on three and five year fixed mortgages

Skipton Building Society is to reduce interest rates on all of its current residential 3 and 5 Year Fixed Rate mortgages.

Interest rates are being lowered across the range, with fee-free options on purchase products including a 3 year fix at 3.32% to 85% LTV and a 5 year fix at 3.76% to 85% LTV. For those who prefer to pay a £195 application fee and an £1800 completion fee the rates on these equivalent products are 3.02% and 3.44%, respectively.

Fee-free options on remortgages include a 3 year fix at 2.52% to 60% LTV and a 5 year fix at 2.87% to 60% LTV.

Kris Brewster, the Society’s Head of Products, said: “We are pleased to offer these new competitive rates on 3 and 5 year fixed rate purchase and remortgage products. It means that homebuyers and remortgage customers can have the security of fixing their mortgage payments over a longer period of time.

“By reducing the rates on our 3 and 5 year fixed products and also offering a variety of fee options, Skipton is continuing to provide products which suit a number of different borrower requirements.”

Key product changes – visit skipton.co.uk/mortgages for full details of our new three and five year fixed rate product range:

Criteria applicable to all of the above products

Early repayment charges of 4/3/2% until 31/01/18 (three-year fixes) and 5/5/5/4/3% until 31/03/20 (five-year fixes), of capital repaid then interest to the end of the month;

Overpayments of up to 10% per annum allowed without penalty;

Available for purchases and remortgages;

Free standard legals and valuations for remortgages.

These new products are available through the Society's Skipton Direct customer service centre, branches and all intermediaries.

Anyone wishing to find out more about the new mortgage range can visit the Society's website at skipton.co.uk/mortgages.