One of the UK's top mortgage providers has re-launched its wide range of fixed-rate mortgages. The Skipton Building Society offers 2 year, 3 year, 5 year, 7 year and 10 year fixed rate mortgages - its 7 year option remains a market leader – particularly with first time buyers and couples with young families who need to keep a tight rein on their finances.
Colin Dale, head of lending at Skipton Building Society, said, “No matter what the Bank of England’s base rate is doing, the majority of borrowers are still looking to secure their rate by choosing a fixed rate mortgage. At 5.09%, our 2 Year Fixed Rate Mortgage is particularly attractively priced, as are the 7 year and the 10 year options for borrowers who would like to freeze repayments for much longer. On the 7-year product, borrowers can make initial monthly payments of only £592 on a £100,000 repayment mortgage."
There are no application fees for any of the products, and Skipton also offers free legal fees and free valuation on all residential remortgage cases, there are options for overpayments and payment holidays on the loan and borrowers can make capital repayments of up to 10% of the original loan each year, without charge, within fixed rate period.
There are however early repayments charges and completion fees. Borrowers will have to pay £499 on completion of the 2 year, 3 year, 5 year and 10 year fixed rate products, as well as the 5.24% 7-year fixed rate option. The 7-year fixed at 5.14% has a completion fee of £799.
Find out more about Skipton Mortgages