New Low Deposit Mortgage From Skipton

Skipton Building Society has launched a highly competitive, low deposit, 2 year fixed rate mortgage.

The new 2 year fixed rate mortgage will help those first time buyers and next time buyers who are struggling to save large deposits to buy a home.

This new product complements Skipton’s existing range of fixed rate and tracker mortgages.

Skipton’s Head of Products, Kris Brewster, said: “This new 95% LTV product follows on from our re-launch back into this market last year and is a big reduction on the previous products we had available.

This demonstrates our commitment to helping borrowers in this segment and is the latest in a series of innovative solutions we have offered over the past 12 months, to help borrowers overcome some of the continued challenges posed by the financial markets and economy.”

The mortgage is fixed until end July 2013 with an interest rate of 5.99%.

There is an application fee of £195 but no completion fee.

Overpayments of up to 10% per annum allowed during product term but beyond this early repayment charges apply for the term – 3% of capital repaid plus interest to the end of the month.

Further information can be found on Skipton’s website at www.skipton.co.uk/mortgages, calling their customer service team on 0845 8501755 or visiting any of their branches.