Skipton ups rate on 10-year fixed rate mortgage
Skipton replaces deal following “overwhelming demand”, with rate increasing from 4.49% to 4.79%.
Skipton Building Society’s existing 10- year fixed-rate mortgage at 4.49 per cent up to 75 per cent loan to value is being withdrawn with effect from close of business today (27 July), to be replaced first thing on Monday (30 July) with a new product set at 4.79 per cent.
Skipton believes the new rate continues to be attractive for a product of this type. It is available through the society’s Skipton Direct customer service centre, branches and all intermediaries.
Our other 10-year fixed rate, at 4.99 per cent to 85 per cent LTV, which was launched at the same time, remains available, as do the society’s seven-year fixes starting from 4.29 per cent to 75 per cent LTV.
Skipton said all these deals complement its varied range of fixed and tracker products, over terms of between two and five years and with LTVs of up to 90 per cent.
Kris Brewster, head of products at Skipton, said: “Our longer term fixes have proved extremely popular, with the payment security they offer clearly appealing to people in the ongoing, uncertain market.
“Our available tranches filled up very quickly, resulting in the replacement of our 7-year fixed rate to 75 per cent a week ago, and now our lower LTV 10-year fix.
“However, as with our 7-year fix, we believe we’ve replaced the 10-year product with a rate which continues to reflect great value for people looking for certainty over their future mortgage payments.”