The three-year capped mortgage rate at Skipton Building Society has fallen.
The mortgage can now be taken out for a starting rate of 5.24 per cent, a discount of 0.85 per cent from the society's current SVR of 6.09 per cent.
This discount rate lasts until February 28th, 2007 - after which the rate moves to the company's SVR or 5.75 per cent, whichever is lower.
Jennifer Holloway, head of media relations at Skipton Building Society, said: "If market predictions are correct and the UK is nearing a peak in interest rates, borrowers with tracker mortgages could see their repayments decrease in 2005.
"The benefit of Skipton's three-year Capped Rate Mortgage is that, if predictions are wrong and rates move upwards, borrowers have the safeguard of knowing their rate won't exceed 5.75 per cent."To read more about mortgage deals, click here.
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