Skipton offering 2.12% five-year fix
Skipton for Intermediaries has launched a remortgage-only 2.12% fix locked in until 30 September 2021.
At the end of the fixed period, the mortgage reverts to the society's standard variable rate which is currently 4.99%. The overall cost for comparison is 4.3% APR.
Aaron Strutt, product director at Trinity Financial, says: “Skipton is trying to tempt borrowers to remortgage and it is even offering a free property valuation and legals service. If you are looking to purchase a property, the rate is 0.03% more expensive.
“Skipton has also announced it will instruct property valuations on receipt of applications. In addition, standard valuations will continue to be offered free of charge for all purchase cases.”
The 2.12% rate has a £1,995 arrangement fee and early repayment charges for the full five years.
Applicants will need a 40% deposit to qualify and there is a maximum loan size of £1 million.
For help to secure a longer term fixed rate, call Trinity Financial on 020 7016 0790.
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