Skipton slashes rates

Sarah Davidson

July 23, 2014

Its 5-year residential fixes stand at 3.30% (from 3.45%) up to 60% LTV, 4.19% (from 4.28%) to 85% LTV and 4.99% (from 5.09%) to 90% LTV, all with a £195 application fee and £800 completion fee. Also available are fee-less products, reduced by 0.05% and 0.19% to 3.70% at 75% LTV and 4.34% at 85% LTV.

On 2-year products fixes have been reduced by 0.10% and 0.30% to 2.59% at 75% LTV and 3.39% at 85% LTV with £495 in fees.

Kris Brewster, the building society’s head of products, said: “We’re pleased to announce rate reductions on a number of fixed rate mortgages across a range which offers fee and rate options to suit a number of different borrower requirements.

“The wide range of products we now have on offer at very competitive rates means that Skipton is well-placed to help anyone in the residential housing market.

“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.

“We are creating more value and choice for our customers who have worked hard to build equity or have a substantial deposit.”

Skipton’s 5-year buy-to-let fixes have been reduced by 0.10% to 3.99% and 4.69% at 60% LTV and 75% LTV, while both incur £995 in fees.

The building society’s 3-year residential fixes have been slashed to 2.55% at 60% LTV, 2.89% at 75% LTV and 3.99% at 85% LTV, with the first two incurring a £195 application fee and an £800 completion fee.

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