Skipton discount mortgage range expanded

08 July 2004
The Skipton Building Society has expanded its discounted mortgage range.

It has launched three new products with rates starting at 3.19 per cent. This could see the monthly repayment on a £100,000 repayment mortgage as low as £485.

Skipton spokeswoman Jennifer Holloway said: "The popularity of our previous 3-Year Stepped Discount Mortgage has led us to add two new discounted products to our range."

After three years all the mortgages revert to the building society's standards variable rate - which currently stands at 5.84 per cent.

Skipton, the UK's seventh largest building society, offers these mortgages at up to 95 per cent LTV, offers free legal fees on re-mortgages, and gives accident, sickness and unemployment cover for six months. But the building society does charge a three per cent early repayment charge for the first three years of its Flexible 3-Year Stepped Discount Mortgage (starting at 3.19 per cent) and its Flexible 3-Year Discount Plus Mortgage (starting at 4.79).

There is a £399 application fee for these mortgages.