Skipton Building Society  

Skipton launches competitively-priced five-year mortgages

Skipton launches competitively-priced five-year mortgages

Skipton Building Society has launched two new residential mortgage products for purchase and remortgage, exclusively for intermediaries.

The five-year fixed rate mortgage products, both to 60 per cent loan-to-value (LTV), offer rates of 1.99 per cent for a fee-free deal and 1.87 per cent  with a £995 fee.

The deals, which were launched today (26 July) include free standard valuation for purchase and remortgage deals as well as standard legals for remortgage-only.

Kris Brewster, Skipton's head of products, said: "Skipton continues its commitment to build mutually strong relationships with our valued professional partners and so we are delighted to announce two new fixed rate residential products at competitive rates.

"At Skipton Intermediaries we spend a great deal of time talking with and listening to brokers, and it is thanks to their feedback that we’ve been able to devise these great products and continue to support our broker partners."

Daniel Bailey, mortgage broker from Middleton Finance in Sheffield, said: "Skipton have launched two very competitive five-year fixed deals.

"It is important to compare the two deals and ascertain if it is worth paying arrangement fee or go with a slightly higher rate and pay no fee.

"The free valuation is always helpful to first-time buyers and home movers as it reduces upfront costs and should be factored in when deciding on a deal.

"Free standard legals is being offered for remortgage products. I would like to have seen Skipton offering a cash back alternative allowing applicants to use their own solicitor."

aamina.zafar@ft.com