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Skipton relaunches Stateside mortgage

Skipton Building Society has relaunched its stateside tracker mortgage, which tracks the 3-month US dollar LIBOR rate plus 1.85 per cent for five years. This gives a current rate of 2.99 per cent. The mortgage is available at up to 95 per cent loan to value. It has an early redemption fee of 5 per cent until November 30th 2008.

Head of media relations Jennifer Holloway says: “If history repeats itself, the US$ LIBOR rate will remain lower than the UK&#39s base rate, which in turn will mean that Stateside borrowers continue to benefit from a low rate. This product has proved very popular with the more financially aware borrowers in the past, who understand the product&#39s features, and we predict that it will do so again.”

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