Skipton cuts 2-year tracker rates

Yuan Phoon

December 7, 2011

Its 2-year Base Rate tracker will be cut from 3.78% to 3.58% and comes with an application fee of £195 and a completion fee of £800.

The fee free version has also seen a rate cut of 0.20% from 3.98% to 3.78% and comes with only an application fee.

Both products have early repayment charges of 3% of the capital repaid plus interest to the end of the month.

Overpayments of up to 10% per annum are allowed without penalty.

Paul Darwin, head of intermediary lending, said: “I’m sure our broker supporters will welcome a price reduction on these higher LTV 2-year trackers, which will offer more opportunities for their clients in that bracket.”

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