Skipton's SVR 'remains low'

18-May-2007

Skipton Building Society has claimed its new Standard Variable Rate (SVR) is competitively priced, which may interest recent first time home buyers.

According to the building society, the new SVR of 6.89 per cent remains lower than the rates offered by any of Britain's leading ten building societies, which may interest those - such as recent first time home buyers - concerned about affordability.

"As the society with the lowest interest margin, we always make every effort to ensure that both investors and borrowers benefit from our competitive advantage," said John Goodfellow, chief executive of Skipton Building Society.

"Our latest interest rate changes strike that balance, keeping our SVR the lowest of any top ten building society," he added.

To find out about those mortgages specifically aimed at first time buyers, see our best buys for first time buyers table.

Indeed, according to the building society, most investors with Skipton will find interest rates increasing by 0.25 per cent.

In addition to mortgages, Skipton offers a range of savings products, including Child Trust Funds and Isas.

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