Skipton launches Base Rate tracker mortgage

Amanda Jarvis

February 1, 2006

Jennifer Holloway, head of media relations at Skipton Building Society, commented, “The Base Rate Tracker Extra really is a win-win product for any borrower. They win when they take out the loan as there are no fees and £150 cashback; they win if – as many market commentators predict – the base rate moves downwards, through lower monthly payments; and they win should they wish to repay the loan, as there are no early repayment charges or penalties. We believe the simplicity of this mortgage is what will make it so attractive to borrowers.”

Key features – New Base Rate Tracker Extra Mortgage (Branches Only)
– Tracks Bank of England’s base rate + 0.49% for the term of the mortgage
– No application fee or completion fee
– £150 cashback on completion
-No Early Repayment Charge (ERC)
– Available up to 95% LTV with free MIG/Higher Lending Charge up to 90% LTV
– Free legal fees (through Skipton Home Conveyancing Service) and free valuation on all residential remortgage cases
– Free accident, sickness and unemployment (ASU) cover for six months
– Flexible benefits – daily interest, overpayments and payment holidays.

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