Skipton launches new 10-year fixed-rate mortgage

23-Aug-2006

Skipton's new fixed-rate mortgage could benefit first time buyers as it features an interest rate of 5.29 per cent for loans up to 75 per cent LTV (Loan-to-Value), with a 5.39 per cent interest rate for loans up to 95 per cent LTV.

"With the recent base rate increase introducing uncertainty back to the mortgage market, fixed-rate deals have definitely gained in popularity," said John Goodfellow, chief executive of Skipton Building Society.

"For those seeking certainty over the longer term, our new ten-year fixed-rate mortgage gives them all the peace of mind they need," he added.

Additional features of the new product include early repayment charges of between three and five per cent, free MIG/higher lending charges up to 90 per cent and free accident, sickness and unemployment cover for six months.

In addition to mortgages, Skipton Building Society provides a range of savings and investment products, including ISAs, Child Trust Funds and bonds.

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