New rates for Skipton's mortgages

Skipton Building Society is re-launching its fixed-rate mortgage range with lower rates and is introducing two new base rate trackers.

There are a raft of deals on the fixed-rate range, which start from as low as 5.34 per cent and include mortgages for two, three, five, seven and ten years.

The 5.34 per cent rate applies to the seven-year fixed rate mortgage which is available on loans up to 75 per cent. It includes a completion fee of £1,999 and maximum loan of £250,000.

According to Skipton this rate means homeowners could make initial payments of £604 on a £100,000 repayment mortgage.

There are 5.69 per cent and 5.39 per cent rates on offer for Skipton's two-year fixed rate mortgages and its ten-year fixed-rate deals come in at between 5.34 per cent and 6.04 per cent.

Skipton is also unveiling two new base rate tracker products.

It includes the three-year capped mortgage, which tracks the Bank of England's base rate plus 0.59 per cent for loans up to 75 per cent. It is capped at 5.99 per cent to April 30th 2011.

Steve Aldous, general manager of Skipton, said the fixed-rates offered "substantial benefits" to homeowners.

He added: "At a time when many are having to tighten their belts and start to budget, these still provide the best option for borrowers who need to know exactly what their outgoings are."