Skipton launches 7-year fix
The new range also includes new 2-year fixed rate mortgages, including a low rate, higher fee option, and 5-year fixed rate mortgages at 60% LTV and 90% LTV.
The range of fee-free 7-year fixed rate mortgages starting at 3.99% from 60% to 90% LTV are the only ones available on the market at this time, and will be attractive to buyers or customers who want the security of having monthly repayments which will remain unchanged over a longer period of time.
Kris Brewster, the Society’s head of products, said: “With the continuing uncertainty over Bank of England base rates we have taken the major step to offer our customers seven year fixed rate products which will enable them to plan for the future knowing that their mortgage repayments will remain static for the longer term.
“We’re extremely pleased to offer this new fee-free product range, on top of new two and 5-year fixed rate mortgages.
“For those wishing to keep their monthly payments to a minimum we are also offering the option of a 2-year fixed rate mortgage at just 2.35%, but with higher fees. We feel the new range offers fee and rate options to suit a number of different borrower requirements.”
“We’re continuing to lend strongly, in line with our commitment to doing everything to help borrowers, and the ongoing popularity of our products is a reflection of that.”