Skipton relaunches new range of fixed-rate mortgages

25-Jan-2007

Skipton Building Society has announced a decision to relaunch its range of two, three, five and seven year fixed-rate mortgages, potentially benefiting first time buyers.

The lender's fixed-rate range may be suitable for first time buyers looking to insulate themselves against future interest rate rises, with interest rates from 5.34 per cent.

The range of products features a loan-to-value of between 75 per cent and 95 per cent.

To find out more about this mortgage and other mortgages for first time buyers, click here.

"With the Bank of England's base rate steadily rising, the majority of borrowers are still looking to secure their monthly repayments by choosing a fixed-rate mortgage," said Colin Dale, heading of lending at Skipton.

"For most first time buyers it is already an uphill struggle to get onto the property ladder," he added.

A higher lending charge will be applied for all borrowing above 90 per cent.

Skipton Building Society offers a range of mortgages for first time buyers and repeat purchasers, including variable-rate and buy-to-let packages.

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