Skipton launches newly low rate tracker range

Skipton launches newly low rate tracker range

Skipton Building Society is launching a mortgage tracker range with rates as low as 1.17 per cent.

Available from tomorrow (30 June) for both new and existing customers, two-year products include rates at 1.17 per cent to 60 per cent loan-to-value (LTV), 1.40 per cent to 75 per cent LTV and 1.71 per cent to 85 per cent LTV.

The two-year deals come with £495 fees, while remortgage customers benefit from free valuation and standard legal fees.

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The three-year fee-free retention tracker range for remortgages includes products at 1.53 per cent to 60 per cent LTV, 1.73 per cent to 75 per cent LTV and 2.49 per cent to 90 per cent LTV. 

All come with free valuations, no early repayment charges and unlimited overpayments.

The remortgage products will only be available to existing customers and intermediaries who are currently part of Skipton’s mortgage retention pilot - a service that the lender has pledged to fully implement by the end of the year.

In addition, two fee-free two-year trackers are being added to Skipton’s interest-only mortgage range at 1.58 per cent to 60 per cent LTV and 1.70 per cent to 70 per cent LTV.

All the above products will track the Bank of England Base Rate, which is currently 0.25 per cent.

Skipton has also added two five-year fixed products to its intermediary-only range.

Kris Brewster, Skipton's head of products, said: "Earlier this month we launched our new interest-only mortgage range and cut many core residential mortgage rates, and we are now taking the opportunity to give home buyers even more choice with the introduction of our new tracker range.”

Mike Pendergast, IFA at Cheshire-based Zen Financial Services, commented: “Those are pretty good rates – among the best around at the moment – and with reasonable fees. A lot of clients prefer low fees, and to get a good rate with a low fee is great.”