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Skipton trims interest-only rates

  • 22/08/2017
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Skipton trims interest-only rates
Skipton Building Society has trimmed the rates on its interest-only mortgage range.

The mutual made the cuts of up to 0.1% to its two-year and five-year fixed-rate products.

A pair of five-year fixes were cut by 0.09% and 0.08% respectively, while four two-year fixes saw cuts of between 0.03 and 0.1%

All the products were at either 60% or 70% loan to value (LTV).

In June the lender overhauled it’s affordability and criteria for interest-only mortgages.

Skipton Building Society head of products Kris Brewster (pictured) said: “There’s no one-size-fits-all approach to lending, and it’s important to us that we have a range of competitive mortgages designed to suit our members’ individual needs.

“Reducing these rates means we can do just that while ensuring this type of product is only taken out by borrowers that have a defined exit strategy to repay the loan.”

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