Skipton adds more high LTV mortgages to range

Skipton Building Society has added more high LTV mortgages to its already varied and competitive range.

Launching tomorrow through all channels, the new products include two, three and five year fixed rates up to 90 per cent LTV.

They offer a choice of fee options to suit borrowers’ individual circumstances – whether they prefer to minimise the upfront cost or would rather pay more at the outset in return for a lower rate over the product term.

The Society’s existing two-year fixed rate product at 85 per cent and its three and five-year fixes at 90 per cent are being withdrawn and replaced with rates which are up to 0.20 per cent lower.

Key product features

2-year fixed rates with application fee of £195 and no completion fee

To 80 per cent LTV: interest rate 4.49 per cent;

To 85 per cent LTV: interest rate 4.99 per cent;

To 90 per cent LTV: interest rate 6.19 per cent;

Fixed until 30/03/13;

Early Repayment Charge (ERC): 3 per cent of capital repaid, plus interest to the end of the month, until 30/4/13.

2-year fixed rate with £195 application fee and £995 completion fee

To 85 per cent LTV: interest rate 4.79 per cent;

All other product features as above.

3-year fixed rates with application fee of £195 and no completion fee

To 90 per cent LTV: interest rate 6.39 per cent;

Fixed until 31/5/14;

ERC: 5,4,3 per cent of capital repaid, plus interest to the end of the month, until 31/5/14.

3-year fixed rate with £195 application fee and £995 completion fee

To 90 per cent LTV: interest rate 6.19 per cent;

All other product features as above.

5-year fixed rate with application fee of £195 and no completion fee

To 90 per cent LTV: interest rate 6.49 per cent;

Fixed until 31/5/16;

ERC: 5,4,3,2,1 per cent of capital repaid, plus interest to the end of the month, until 31/5/16.

5-year fixed rate with £195 application fee and £995 completion fee

To 90 per cent LTV: interest rate 6.29 per cent;

All other product features as above.

Skipton’s head of products, Kris Brewster, said: “We’re continuing to do all we can to help borrowers achieve their homeownership aspirations despite challenging market conditions, by offering choice and good value – including higher LTV options – to suit a range of circumstances.

“This latest set of loans complements the new range we launched a week ago, which included a limited edition 95 per cent LTV product for first time buyers and next-time buyers impacted by lower equity due to challenging market conditions.

“We now offer a comprehensive range of fee options to put borrowers in the driving seat by letting them choose the kind of product structure which best suits them.”