The Skipton Building Society has released an intermediary update. For full details see their latest product information here. All Skipton products are accessible through our direct to lender mortgage club with payment on completion. Contact us for details.
Skipton Announcement
We’re making various changes to our product ranges
From 9am Monday 30 January, we will be making various changes to our product ranges. Including introducing the rates below.
5 year fixed residential – Purchase/Remo
4.43% – 60% LTV – £0 Fee
2 year fixed residential – New Build Purchase Only
5.80% – 95% LTV – £0 Fee
2 year fixed residential – Purchase Remo
4.93% – 60% LTV – £0 Fee
Key Changes
Re-introducing 2 year fixed 95% LTV New Build Houses, Shared Ownership and First Homes England products.
Reductions of up to 0.44% on our 5 year fixed New Build Houses and 2 and 5 year Larger Loan Residential products.
Re-introduction of Existing Customer Only Residential fixed rate products up to 80% LTV.
Introduction of Existing Customer Only products for customers who are already participants of the Scottish First Home Fund scheme equity loan.
Important update following the Bank of England Base Rate changes.
Today the Bank of England’s Monetary Policy Committee announced a 0.50% increase to the base rate. The Bank of England Base Rate now stands at 4.00%. As a result of this announcement, we can now confirm the following:
All customers who have existing mortgages with Skipton Building Society which track the Bank of England Base Rate will see their account interest rate change (subject to any product rate cap) in line with their terms and conditions. For most Base Rate Tracker products, rates will be increased no later than 14 days from today, Thursday 2 February 2023.
The rates on our existing Base Rate Tracker mortgage products will continue to be available until 10pm Sunday 5 February 2023. The new rates reflecting the 0.50% Bank of England Base Rate increase will be available from 9am Monday 6 February 2023.