The three-year fixed rate product is available at 4.89 per cent for loans up to 90 per cent loan to value (LTV) – making it ideal for first time buyers or ‘next time’ buyers affected by reduced equity in their homes. It is available for purchases and remortgages and carries no booking or completion fees. A free standard valuation and free standard legal fees are also available for remortgages.
The existing five-year fixed rate exclusive product from Skipton BS, which is also available up to 90 per cent LTV, has been further improved with a rate reduction of 0.15 per cent to 5.09 per cent.
Robert McCoy, senior product and communications manager for mortgages at Sesame Bankhall Group, commented:
At a time when we are looking to lenders to offer help to first time buyers and those borrowers with higher LTV requirements, these products are welcome additions to our current range of exclusive products. The popularity of the previous five-year mortgage shows that these higher LTV products are in demand and we look forward to working with Skipton BS once again.
Paul Darwin, head of intermediary sales at Skipton Building Society, added:
As a mutual, Skipton BS is committed to doing everything possible to prudently help borrowers struggling with low deposits and limited equity. We are pleased to cement our strong working relationship with Sesame and PMS by offering members these two exclusive products.