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Skipton launches US dollar tracking mortgage

Skipton Building Society is launching its Stateside Mortgage which tracks the US Dollar Libor rate rather than UK rates.

It says US rates historically remain lower than UK ones and its new mortgage tracking the USDL rate for the first five years is designed to let consumers take advantage of this.

Rates on the Stateside Mortgage start at 3.24 per cent and the borrower pays it back in GBP sterling to avoid the complication of dealing in a foreign currency.

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