New Mortgage Guides

Other Mortgage Guides

Mortgage Types

Mortgage Tools

New mortgage deal from building society

Mon, 18 Aug 2008

A mortgage lender has announced the launch of two brand new fixed-rate mortgage loans . The special ‘staggered’ deals give borrowers the opportunity of fixed-rate repayments, staged over different levels – in tandem with borrowers’ changing lives.

Released by Skipton Building Society, the Stepping Up deal starts at a relatively low rate and then climbs in stages over a five year period. The deal is pitched at those borrowers who anticipate wage increases and the ability to afford higher mortgage repayments .

In contrast, the Stepping Down deal starts high (6.99 per cent) before falling in stages over a five year period. Both offers extend to a maximum of 75 per cent loan to value, and feature an arrangement fee just shy of £900. The general manager of lender sales and marketing at Skipton, Steve Aldous, reportedly commented: "These are products for our times; offering flexibility and value. The average annual rate of these products is exactly the same as our existing flat rate 5-year fixed mortgage - 6.19 per cent."
add to favouritesnewsletterlink to this pagesend to friendpost comments

Link to this page

Copy and Paste the following HTML into your page.

 

 

Mortgage lenders

Browse mortgage lender offersMortgage Rates by Lender

  • Browse current mortgage offers from over 90 lenders.
Browse

Worried about mortgage repayments?Worried about Mortgage Repayments?

  • Join our petition to Government to bail out burdened individuals, not just banks.
Sign the petition

Free mortgage quoteFree Mortgage Quote

Apply Here

Mortgages in Scotland Mortgages in Scotland

Read More

Equity releaseEquity Release

  • Unlock equity in your home.
Apply Here

Switching mortgagesSwitching Mortgages

Read More

Home reversion plansHome Reversion Plans

Apply Here

Commercial mortgages Commercial Mortgages

  • Commercial property loans
  • Starting a business?
Apply Here

Arrears & CCJs?

  • Remortgages
  • Sub prime mortgages
  • Arrears, CCJs
  • Self certification
  • Debt consolidation
Apply Now

Protect your mortgageProtect Your Mortgage

  • 3 months free mortgage protection cover
Apply Now

Mortgage Newsletter