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Skipton launches mortgage discount scheme

Skipton is launching a mortgage discount scheme which reduces the interest rate of borrowers’ loans the longer they have been with the society.

The scheme will automatically apply a 0.3 per cent discount off Skipton’s variable rate of 6.9 per cent after a mortgage has been held for two years and a 0.5 per cent discount after four years.

Borrowers on special deals and within redemption penalty periods will also benefit from the discounts.

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Portman Building Society is raising the rates on its range of fixedmortgages as it believes interest rates will rise over the coming months. Its fixed-rate loans start with a product fixed at 3.99 per cent untilAugust 2003, up from 3.49 per cent, with a facility to repay up to 5 percent of the capital borrowed […]

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