Skipton launches new mortgages

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Skipton Building Society has announced the launch of two new fixed rate mortgage products.

The five-year products, which are named Stepping Up and Stepping Down, feature rates that increase and decrease respectively over the term.

Both include a maximum loan to value for 75 per cent, as well as a completion fee of £895.

The Stepping Up deal includes a starting rate of 5.39 percent, while the Stepping Down begins at 6.99 per cent.

Steve Aldous, general manager of sales and marketing for the lender, said the products offer consumers "flexibility and value".

He added: "Whether you are looking to get on the housing ladder and need to keep your costs low, or are planning ahead for a time when your budget will be tighter, we now have the mortgage products to help."

Last week, the Yorkshire Building Society also unveiled a new range of mortgages with rates under six per cent.

The remortgage products include terms of three, five and ten years.

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