View more on these topics

No penalties on Skipton 10-year fixed mortgage

Skipton Building Society is offering a 10-year fixed-rate mortgage with no redemption penalties.

This is Skipton&#39s first entry into the long-term fixed-rate market. The loan is fixed at 5.99 per cent until March 31, 2005, increasing to 6.24 per cent until March 31, 2014.

The loan then reverts to Skipton&#39s variable rate with a 0.75 per cent discount.

The mortgage is available at up to 95 per cent loan to value, with free MIG up to 90 per cent LTV.

Unlimited capital repayments are allowed each year without charge and interest is payable only to the end of the month of redemption.

Head of media relations Jennifer Holloway says: “Longer-term fixed rates have been brought to the public&#39s attention recently through the Miles review and the implication is that the UK&#39s future borrowing habits may lie more in this direction.

“Skipton&#39s 10-year fixed-rate mortgage is therefore a good mid-term solution for homeowners who like the idea of knowing exactly what their repayments will be for a long period but who are not prepared to gamble on the 25-year market.”

Recommended

Lighthouse shares for advisers

Lighthouse is to offer shares to a vast majority of its advisers, making cash payments totalling £150,000 and issuing options of over 1.2 million shares at an exercise price of 1p each. This amounts to around 3.4 per cent of the issued ordinary share capital of Lighthouse Group. The options have an aggregate value of […]

Standard Bank Offshore stages lock in

Standard Bank offshore has created a guaranteed equity bond that locks in 25 per cent growth if the FTSE 100 index rises by 25 per cent at any point during the five-year term. Equity growth deposit is available to investors with at least the £10,000 minimum and it returns investors&#39 original capital regardless of how […]

Talkback

“There have been numerous contributions over the decline of the sector, not just Paul Smee.” Ian Potter, Jackson Potter Advisers“Absolutely. Time and time again, the industry is slighted and these people contribute nothing to add value or help us. They are under the illusion that we are a profession but as yet we have not […]

Standard won&#39t talk about mutual benefits

Standard Life will no longer tell its existing and prospective with-profits policyholders about the anticipated benefits of mutuality as it announces it is reviewing its mutual status. Following the completion of talks with the FSA, the life office has also announced future and existing with-profits policyholders will also face a charge to reflect any relevant […]

Tax-free gains? That can’t be right, can it?

When he was Chancellor of the Exchequer, George Osborne made several changes to the way in which income is taxed. Personal allowances were increased significantly above the rate of inflation; a starting rate band was introduced for savings income and, with effect from 6 April 2015, this was assessed at 0 per cent. In addition, […]

Newsletter

News and expert analysis straight to your inbox

Sign up

Comments

    Leave a comment

    Close

    Why register with Money Marketing ?

    Providing trusted insight for professional advisers.  Since 1985 Money Marketing has helped promote and analyse the financial adviser community in the UK and continues to be the trusted industry brand for independent insight and advice.

    News & analysis delivered directly to your inbox
    Register today to receive our range of news alerts including daily and weekly briefings

    Money Marketing Events
    Be the first to hear about our industry leading conferences, awards, roundtables and more.

    Research and insight
    Take part in and see the results of Money Marketing's flagship investigations into industry trends.

    Have your say
    Only registered users can post comments. As the voice of the adviser community, our content generates robust debate. Sign up today and make your voice heard.

    Register now

    Having problems?

    Contact us on +44 (0)20 7292 3712

    Lines are open Monday to Friday 9:00am -5.00pm

    Email: customerservices@moneymarketing.com