Skipton launches 10-year fixed mortgage

Skipton has launched a 10-year fixed rate mortgage at 5.29% for loans up to 75% LTV and 5.39% for loans up to 95% LTV.

John Goodfellow, chief executive of Skipton, says: With the recent base rate increase introducing uncertainty back to the mortgage market, fixed rate deals have definitely gained in popularity.

For those seeking certainty over the longer term, our 10-year fixed rate mortgage gives them all the peace of mind they need.

The mortgage has an early repayment charge of 5% to November 30 2008, 4% to November 30 2010, 3% to November 30 2012, 2% to November 30 2014 and 1% to November 30 2016

It comes with free legal fees through Skipton Home Conveyancing Service and free valuation on all residential remortgage cases.

There is also free accident, sickness and unemployment cover for six months, flexible benefits such as daily interest, overpayments and payment holidays, and capital repayments of up to 10% of the original loan are allowed each year, without charge, within early repayment charge period.

There is no application fee and the 499 completion fee can be added to the loan.