Skipton revamps mortgage range

Skipton revamps mortgage range

Skipton Building Society has revamped its product range with a raft of new launches and rate cuts.

The lender has introduced a three-year fixed range of Help-to-Buy mortgages as well as a new two-year interest only residential mortgage with a rate of 1.73 per cent. The interest only product is available up to a loan to value of 70 per cent and has a £995 fee.

Skipton head of products Kris Brewster said: "Our mortgage products continue to have an emphasis on offering wide choice and good value."

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Skipton will also offer a fee-free five year fixed deal at 2.89 per cent, up to a 75 per cent LTV, with a two-year fixed deal available at 1.78 per cent with a £995 fee. The building society is offering cashback on remortgage products as an alternative to free legal fees.

From today (20 February), the provider has reduced its rates on new build fixed rate products by up to 0.13 per cent and by up to 0.35 per cent for additional borrowing on residential loans.

Daniel Bailey, principal at Middleton Finance, said: "It’s positive to see Skipton offering cash back as an alternative to free legals on certain products. Many brokers are extremely with the free legals route at the moment.

"Skipton is also one of the few lenders that offers a 90 per cent mortgage on new build houses so it is good news for buyers to see a reduction in the rates on these products."