Skipton relaunches fixed rates

Skipton has relaunched its range of two-year, three-year, five-year, seven-year and 10 year fixed rate mortgages.

On this product, borrowers could make initial monthly payments of only £592 on a £100,000 repayment mortgage.

Colin Dale, head of lending at Skipton, says: “No matter what the Bank of England’s base rate is doing, the majority of borrowers are still looking to secure their rate by choosing a fixed rate mortgage.

“They are particularly popular with first time buyers or couples with young families who have to keep a tight rein on their finances.

“At 5.09%, our two-year fixed rate mortgage is particularly attractively priced, as are the seven year and the 10 year options for borrowers who would like to freeze repayments for much longer.”