New five-year products launched by Skipton BS

Skipton Building Society has announced the launch of a new slate of fixed rate five-year loans, with this marking its re-entry into the mortgage market following a brief gap.

The building society withdrew its range of products last week due the economic situation, but those who already have a mortgage with Skipton were not impacted by that move. Therefore, these latest products are being targeted primarily at new borrowers and one of them is a loan with LTV of 95% that is designed particularly for those looking to buy for the first time.

It is a welcome increase in available products at a time when that choice has been shrinking, and the new slate from Skipton features a fairly wide range of rates. The lowest have been set at 5.85% for products with LTV of up to 75%, while the highest have LTV of 90% and rates set at 5.99%. Fees for all of the products are £995.

Skipton BS is also indicating that further mortgages will be made available over the coming months. Speaking to Financial Advisor, its mortgage product head Charlotte Harrison said:

“After temporarily withdrawing from the market last week, we promised we’d return as quickly as we could and that’s what we’re doing. We’ve prioritised getting five-year fixes into the market first, as our broker partners are telling us that’s what their clients need most.”

Advisors with the CeMAP qualification will be pleased to see more products hitting the market with choice having suffered recently due to wider economic concerns.


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