Skipton launches three and five-year fixes

Skipton Building Society is launching a new suite of three and five-year fixed rate mortgages on Thursday, with reduced rates of up to 0.40%.

The new range is available through the society’s Skipton Direct customer service centre, branches and all intermediaries.

The range includes a three-year fixed rate up to 80% LTV at 3.68% and a five-year fixed rate up to 75% LTV at 3.69%, as well as a five-year fix at 80% with a rate of 4.08%.

The products come with an application fee of £195 and completion fee of £800 and free legals and valuations for remortgages.

Kris Brewster, head of products at Skipton, says: “We spotted an opportunity to pass on recent downward movement in market swap rates to our customers.

“We’re also recognising that –in the continued difficult market conditions –some people are leaning towards the certainty of knowing what their payments are going to be over a longer period of time. We hope these new lower three and five-year deals will help to cater for that need.”