Skipton launches tracker Options range

The society's new Options tracker mortgages offer borrowers the best of both worlds - the ability to benefit from a low bank base rate while it lasts, and then switch to the shelter of a Skipton fixed rate deal during the product term if they wish with no early repayment charges.

Product highlights:

  • 5 year base rate tracker: BBR +2.99%; maximum LTV 80%; completion fee £995
  • 5 Year base rate tracker: no fee; BBR + 3.19%, currently 3.69%; maximum LTV 80%
Commenting, senior product manager, William Gill said: "We recognise the anxiety many borrowers feel amid continued market uncertainty and with the prospect that interest rates may start to rise from their current, historic lows before the end of the year.

"That's why we've come up with this new solution to help cushion them against potentially increasing rates, while enabling them to benefit from the current, exceptionally low bank base rate for as long as possible."