Skipton launches two and five-year fixes

Skipton Building Society has launched a two-year fixed rate up to 60% LTV at 3.59% and a five-year fixed rate up to 85% LTV at 4.89%.

Skiptonbranch1.tif.jpg

The two-year fixed rate has an early repayment charge of 3% of the capital repaid and interest to the end of the month.

While, the five-year fix has an early repayment charge of five, four, three, two and 1% of capital repaid plus interest to the end of the month.

Both products have an application fee of £195 and completion fee of £800.

These new products are available through the society’s Skipton Direct customer service centre, branches and all intermediaries.

Kris Brewster, head of products at Skipton, says: “We are constantly monitoring both customer and market feedback, and adjusting our product range to suit people’s developing needs as well as prevailing trends.

“With our new two-year product, we’re offering a low rate for people who have managed to build up a decent equity cushion.

“At the same time, we recognise that many people are looking for longer term peace of mind against a backdrop of ongoing interest rate uncertainty, hence why we are introducing our new five-year fix at a lower rate to cater for that need.”