Rates on its residential and buy-to-let mortgage products were reduced by up to 0.30%
Offshore bank Skipton International has lowered the interest rates on its residential and buy-to-let mortgage products by up to 0.30%, and announced a new group CEO.
The products that have had their rates reduced include the lender’s five-year fix at 90% loan-to-value (LTV), now with a rate of 5.49%, which was 5.79% previously. There is also a five-year fixed rate, also at 5.49%, for remortgaging. Both are fee-free.
The bank is also reintroducing base rate tracker mortgage products and seeks to further enhance its range by rolling out new products later this month.
“Having reviewed market conditions as January has progressed, we’re taking the opportunity presented by falling market interest rates to reduce our product rates, and reintroduce our popular base rate tracker products,” Simon White, director of credit at Skipton International, said.
“We hope that by reducing rates and reintroducing products, we will be able to support a variety of borrowers, whether they are for new purchases or remortgaging.”
The full details of Skipton International’s products are available on its website.
Skipton Group welcomes new CEO
The Guernsey-licensed bank also announced the appointment of Stuart Haire (pictured) as the new chief executive of the Skipton Group, which includes locally-based Skipton International, Connells Estate Agents, and Skipton Building Society.
Haire was a former chief executive at HSBC’s personal and private banking and was responsible for HSBC UK, First Direct, M&S Bank, and John Lewis Financial Services.
He expressed excitement about starting his new role with the Skipton Group.
“I was drawn to the organisation by the proud history of its brands and its strong purpose,” Haire said. “It’s a huge privilege to be here and I look forward to working with all the teams to write the next chapter for the Skipton Group.”
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