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Skipton launches replacement two-year range

Skipton Building Society has launched a new range of two-year fixed-rate and tracker products to replace the range it withdraw last week.

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The building society sent a notice to brokers last Friday stating it had decided to withdraw it’s the selection of two-year products – which had been launched five weeks before the announcement – due to high demand and the implications this might have on the lender’s service levels.

The pay rates have been changed to half of the products in the new range.

The new two-year fixed-rate mortgages in the range include a mixture of purchase and remortgage products, with rates starting from 3.29 and 3.69 per cent respectively. Borrowers have a choice between mortgages of a loan-to-value of up to 75 and 85 per cent.

The tracker range includes a two-year base rate plus 2.19 per cent product with an LTV of up to 75 per cent. The tracker range also includes a product with an LTV of up to 90 per cent with a rate of 4.89 per cent.

Skipton has also launched a new two-year fixed-rate at 4.29 per cent up to 80 per cent LTV, available for both purchase and remortgage business.

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