Although this year has started strongly for the mortgage market, there has not been much in the way of new deals.One lender that has been improving its range is Skipton, which is offering new fixed rates. For residential borrow-ers, Skipton’s three and five- year fixed rates have been cut from 4.85 per cent to 4.74 per cent. The deals carry an arrangement fee of 449 and are available up to 95 per cent, although a higher lending charge applies above 90 per cent. There are early repayment charges for the fixed period, during which overpay-ments of 10 per cent can be made each year without penalty. The deals then revert to Skipton’s reason-able SVR of 5.89 per cent. These new rates are not in best-buy territory but they are not far off, particularly for remortgages as they both offer a free valuation and free legal work. The new buy-to-let rates are also worth a look, with three and five-year deals fixed at 5.15 per cent. The arrangement fee has increased by 100 to 699 but many borrowers may still prefer to pay this rather than a fee based on the percentage of the loan. As with the residential rates, both deals look most competitive for borrowers looking to switch thanks to the remortgage incentives. These are decent rates, largely thanks to the remortgage incentives but the real pick of Skipton’s bunch, a two-year fix at 4.45 per cent (which comes with the remortgage freebies) is unfortunately not available to intermediaries.
I refer to Chris Cummings column last week on the Financial Ombudsman Service funding review. All advisers should read the FOS plan and budget and make their views known. Too many procedures have been foisted on us because we failed to respond to consultation papers or otherwise promote our opinions. Unfortunately, the matter of FOS […]
Selestia confirms it will be launching its collective retirement account by April 2006.In addition to the launch, Selestia will be hosting a series of IFA debates across the country where advisers can discuss the opportunities being presented by the upcoming changes and debate the issues with key-note speakers.Chief executive Brett Williams says: “The world of […]
Skipton Building Society
Five Year Fixed Rate
Gary West and James Inglis-Jones get equity stakes to run boutique’s European portfolio launching in September
Those with long memories will remember that in the run up to the 2010 general election there was much talk from the Conservative Party around a rather nebulous beast – The Big Society.
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