Skipton launches capped trackers

Skipton has launched two capped tracker mortgages.

The three and five year base rate tracker capped mortgages are both capped at 5.99% – meaning the maximum monthly payment a borrower would make during the capped period on a £100,000 repayment mortgage over a 25 year term would be £643.

Colin Dale, head of lending at Skipton, says: “Our two new base rate tracker capped mortgages give borrowers the confidence in knowing that their interest rate will not go above 5.99% during the capped period.

“This is coupled with the benefit that the rate will fall if, as predicted, we see future decreases in the base rate. Plus, the great starting rates definitely tick all the boxes for borrowers working within a budget.”