Fixed rate mortgages are re-launched by Skipton

Skipton Building Society has announced the re-launch its range of 2, 3, 5, 7 and 10 year fixed rate mortgages. Rates on the deals come in at 5.09%, 5.39%, 5.39%, 5.24% and 5.24%; running through January 31st 2009, 2010, 2012, 2014 and 2017 respectively. All loans assume a maximum LTV of 95%. Loans up to 75% LTV will be 0.10% cheaper in all cases.

All loans revert to the Society’s residential SVR – currently 6.39% – after the fixed rate period ends.

Meanwhile, a higher lending charge is applicable for customers taking out loans between 90% – 95% LTV.

Skipton can provide a Conveyancing service which offers free legal fees and free valuation on all residential re-mortgage cases.

They allow overpayments and payment holidays as well as capital repayments of up to 10% of the original loan each year, without charge, and within the fixed rate period.

Early repayment charges are as follows: 2 year fix – 3% to January 31st 2009; 3 year fix – 5% to January 31st 2008, 4% to January 31st 2009 and 3% to January 31st 2010.

The 5 year fix meanwhile charges 5% through January 31st 2008, then 4% to January 31st 2009 and 3% to January 31st 2012.

The 7 year fix charges 5% through January 31st 2008, then 4% to January 31st 2009, then 3% to January 31st 2012 and 2% to January 31st 2014.

Finally, the 10 year fix levies a 5% charge until January 31st 2009, then 4% to January 31st 2011, 3% to January 31st 2013, 2% to January 31st 2015 and 1% to January 31st 2017.

No application fees apply on any product. But a £499 completion fee is in force for the 2, 3, 5 and 10 year fixes.

For the 7 year deal there are two options: 5.14% with a completion fee of £799 and 5.24% with a completion fee of £499. All completion fees can be added to the loan.