Skipton launches 7-year fixes from 2.4%

Ryan Bembridge

November 21, 2017


Skipton Building Society has launched a 7-year fix rate at 2.40% to 75% loan-to-value with a £995 fee.

The society has also launched a fee-free 7-year fix to 85% LTV with a rate of 2.65%.

Kris Brewster, the society’s head of products, said: “Although bank base rates remain low, uncertainty remains high, so we are delighted to introduce these 7-year fixed rate mortgages which are likely to appeal to borrowers who prioritise stability and prefer to have certainty over their mortgage payments for a longer period.

“With the possibility of future base rate increases, more people may prefer locking themselves into longer fixed-rate deals to insulate themselves from potential interest rate rises.”

In addition Skipton has launched a range of 3-year buy-to-let and new build products.

The new build products include a 3-year fix at 2.49% to 90% LTV with a £995 fee and a fee-free 3-year tracker at 2.35% to 90% LTV.

For purchase and remortgage customers, the buy-to-let range includes a 3-year fix at 2.64% to 70% LTV with £495 fee, a fee free product at 2.92% to 75% LTV and a 3-year tracker at 2.55% to 75% LTV.

Lastly the society has reduced some residential 5-year fixed rates by 0.10%, as products start from 2.14% with a £1,995 fee and 2.35% with no fee.

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