Skipton Building Society is to launch a new range of five-year fixed rate mortgages tomorrow (Tuesday 4 October).
The range includes a 95% loan to value (LTV) product to maintain its commitment to backing first time buyers.
The Society says it will continue monitoring its service levels to brokers and customers, staggering its rolling out of other products shortly.
The new five-year fixed rate range consists of the following:
- Residential 75% LTV, £995 fee, 5.85% (with a max loan of £3m)
- Residential 80% LTV, £995 fee, 5.89%
- Residential 90% LTV, £995 fee, 5.99%
- First Homes England 95% LTV, £495 fee, 5.95%
Charlotte Harrison, Skipton’s head of mortgage products, said: “After temporarily withdrawing from the market last week, we promised we’d return as quickly as we could and that’s what we’re doing. We’ve prioritised getting five-year fixes into the market first, as our broker partners are telling us that’s what their clients need most.
“Being member owned, we’re not answerable to shareholders. This means all the decisions we make are based on the long-term best interest of the society and our customers. Having protected our service levels and repriced our range following the changing market conditions, I’m pleased we’re back continuing to support borrowers during such fluctuating times.”
