Skipton unveils mortgages for higher value homes

Published on

Skipton Building Society

Skipton Building Society has launching a new range of two-year fixed rate mortgages for people with higher value properties.

The mutual says the deals have higher upfront fees in order to be able offer interest rates which are priced, it claims, “very keenly” .

These new products are available through the Society’s Skipton Direct customer service centre, branches and all intermediaries.

Product details:

Two-year fixed rate to 60% LTV

  • Interest rate: 2.99%;
  • Application fee: £195;
  • Completion fee: £1,800.

Two-year fixed rate to 75% LTV

  • Interest rate: 3.39%;
  • Application fee: £195;
  • Completion fee: £1,800.

Two-year fixed rate to 85% LTV

  • Interest rate: 4.09%;
  • Application fee: £195;
  • Completion fee: £2,300.

Criteria applicable to both of the above two-year fixes:

  • Minimum loan value: £250,000;
  • Fixed until 30/09/14;
  • Early Repayment Charge (ERC): 3% of capital repaid plus interest to the end of the month;
  • Overpayments of up to 10% per annum allowed without penalty during product term;
  • Revert to Bank Base Rate plus 4.45%, currently 4.95%;
  • Free legals and valuations available on remortgages.

“We constantly listen to customer feedback and have identified a niche for products catering for people purchasing properties over £250,000 in value, who often prefer to pay a bit more upfront in return for the benefit of a lower interest rate over the product term,” said Kris Brewster, Skipton’s head of products.

“For many, this balance can represent very compelling value and this is another example of how we are striving to find innovative solutions for people’s unique needs in the contemporary marketplace.”

Latest POLL

COMMENT ON MORTGAGE SOUP

We want to hear from you!
Leave a comment and get the conversation started.
You need to register to post, so please login or sign up below.

Latest articles

Mortgage advisers failing over-50s on later life lending, Key warns

Mortgage advisers are not doing enough to support over-50s with later life lending options,...

Kuflink announces leadership change as CEO steps down

Kuflink has announced that CEO Narinder Khattoare will step down, marking the end of...

Norton Home Loans partners extends access to specialist solutions

Norton Home Loans has partnered with broker London & Country (L&C) Mortgages to widen...

Hinckley & Rugby for Intermediaries expands remortgage service with PEXA

Hinckley & Rugby for Intermediaries is expanding its partnership with PEXA and Optima Legal,...

Other news

Mortgage advisers failing over-50s on later life lending, Key warns

Mortgage advisers are not doing enough to support over-50s with later life lending options,...

Kuflink announces leadership change as CEO steps down

Kuflink has announced that CEO Narinder Khattoare will step down, marking the end of...

Norton Home Loans partners extends access to specialist solutions

Norton Home Loans has partnered with broker London & Country (L&C) Mortgages to widen...