Skipton launches long-term fixed mortgages

Monday 9th July 2012

Skipton Building Society is launching a range of seven- and ten-year fixed rate mortgage options.

The seven-year fix is available at 75% LTV at 3.99%, while a 85% LTV deal has a rate of   4.89%.

The two ten-year deals come at a rate of 4.49% for mortgages up to 75% LTV and 4.99% for up to 85% LTV.

All four products have an application fee of £195 and a completion fee of £800 and will revert to the Bank of England’s base rate plus 4.45%.

Kris Brewster, Skipton’s head of products, said: “Market swap rates remain unusually low. Therefore, we’ve seized the opportunity to provide these really competitive longer-term deals for people whose priority is having certainty over their monthly mortgage payments for the longer term.

“These kinds of rates on long-term mortgage products would have been unheard of just a few years ago, and therefore we believe they really do represent a golden window of opportunity for savvy borrowers.”