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Skipton adds fixed rate below 1% for first time

Skipton Building Society has added a fixed mortgage rate below 1 per cent for purchase and remortgage for the first time.

From tomorrow, 13 July, the society will introduce its ‘lowest-ever’ fixed rate of 0.99 per cent for two years for purchases and remortgages to 60 per cent LTV.

The purchase and remortgage range also includes lower rates across Skipton’s two and five-year residential fixed range by up to 0.29 per cent.

Skipton head of products Kris Brewster says: “This is certainly an historic moment for Skipton Building Society, the first time we have offered fixed mortgages below 1 per cent.

“This compliments our existing mortgage range, which aims to offer attractive deals to suit a range of circumstances.”

Free valuations are offered on all new two and five-year fixed rate purchase products while remortgagors are offered free valuations and standard legal fees.

Purchase products include Skipton’s lowest ever fixed rate, a two year fix at 0.99 per cent to 60 per cent LTV with £1,995 fee, a two year fix at 1.53 per cent to 70 per cent LTV and two year fix at 1.70 per cent to 85 per cent LTV.

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Comments
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  • Derek Frost 13th July 2017 at 9:05 am

    Hmmm……..Arrangement fee £1,995, up £1,000 against the current 1.09% deal, so on a £346,000 case over 30 years the ‘Saving’ is £307.20 over 2 years, minus the £1,000 greater fee hit. so a net loss of £692.80!! Client’s monthly budget would need to be beyond dire to get close to recommending this product over the 1.09% deal!