7 year fixed rate mortgage relaunched by Skipton.
The high uncertainty that is being felt throughout the economy at the moment has prompted Skipton BS to relaunch its 7 year fixed term mortgage range.
Short-term fixed-rate loans have been much more popular than the longer-terms and, consequently, due to lack of demand, Skipton withdrew this range in 2015. However, the increase in the base rate, together with rising inflation, a less than buoyant economy and the on-going Brexit negotiations, has provided the perfect platform for Skipton to reintroduce their products.
They believe that customers will be drawn to being able to fix at an affordable rate for a period of time long enough to carry them beyond the uncertainty of today. As the base rate is predicted to rise to 3% or more by 2020, Skipton may well be right.
The 7 year fixed rate details are:
- 2.40% for up to 75% LTV
- 2.65% for up to 85% LTV
Skipton is by no means the only lender with longer-term fixed rate mortgages available. Many other alternatives are available nationwide and, as a leading UK mortgage broker, we can source and compare what’s available, so you can be sure of applying for the deal that suits you the most.
For the latest information on the availability of longer-term fixed-rate mortgages, call Deal Direct.
To discuss your requirements, speak to an adviser on 0800 048 8828 now.
