Skipton 7-year fixed rate mortgage 2.99%, 90% LTV, no fee
320°Expired

Skipton 7-year fixed rate mortgage 2.99%, 90% LTV, no fee

23
Found 14th Feb
Not many lenders offer seven-year fixed rate mortgages, they tend to be for two, five or 10 years. But if seven years is what you want Skipton is offering:
  • A 7-year fixed rate at 2.99%
  • Available up to 90% LTV
  • No fee
  • Available to purchasers and remortgagers.

This product might suit you if:
  • You only have a small deposit or not much equity – it’s available up to 90% LTV
  • You want to ride out possible interest rate rises predicted over the next few years.
  • Your mortgage will be paid off in seven years.
  • You plan to stay put for seven years (otherwise you’ll have to pay early repayment charges to exit the deal).
  • You can’t decide between fixing for five or 10 years – it’s the middle ground.
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Top comments
Morrow001 h, 9 m ago

How long is this offer available for?


7 years I reckon.....
23 Comments
How long is this offer available for?
Morrow001 h, 9 m ago

How long is this offer available for?


7 years I reckon.....
Dipbill37 m ago

7 years I reckon.....


As in, when will the offer be withdrawn?
In current market conditions be careful with 90% LTV purchases. So much uncertainty in this market currently that if property prices keep falling, could end up with debt higher than equity which will be a huge problem. Prices are so high that 90% is helpful to get on the ladder with a lower deposit. But be careful and consider waiting until market conditions stabilise...or find a cheaper property (if possible) where can put higher deposit %.
We just added to our mortgage with Nation Wide a few days ago with 10 years fixed rate and I'm sure it was 2.69%?

We were with them already though so don't know if that made a difference, but worth a check.
Edited by: "Dragon32" 15th Feb
Just checked with my wife and its 2.49% 10 year fixed.
ADX26 h, 28 m ago

In current market conditions be careful with 90% LTV purchases. So much …In current market conditions be careful with 90% LTV purchases. So much uncertainty in this market currently that if property prices keep falling, could end up with debt higher than equity which will be a huge problem. Prices are so high that 90% is helpful to get on the ladder with a lower deposit. But be careful and consider waiting until market conditions stabilise...or find a cheaper property (if possible) where can put higher deposit %.


My first mortgage was a 125% mortgage :-) (I didn't default and it was a long time ago now). Bear in mind that while you're waiting you're also probably paying rent which is burnt money

It's a valid point though, it depends on how long you'll be in the house for
Dragon327 m ago

Just checked with my wife and its 2.49% 10 year fixed.


You'd also need to know the LTV and fee to make a valid comparison, 90% is high
Edited by: "Shard" 15th Feb
I don't think they'll go up as fast as people are fearing.
ADX27 h, 26 m ago

In current market conditions be careful with 90% LTV purchases. So much …In current market conditions be careful with 90% LTV purchases. So much uncertainty in this market currently that if property prices keep falling, could end up with debt higher than equity which will be a huge problem. Prices are so high that 90% is helpful to get on the ladder with a lower deposit. But be careful and consider waiting until market conditions stabilise...or find a cheaper property (if possible) where can put higher deposit %.


Where exactly are property prices falling? Announcement yesterday property prices increases by 7% and average house price is now 225000.
Shard1 h, 5 m ago

You'd also need to know the LTV and fee to make a valid comparison, 90% is …You'd also need to know the LTV and fee to make a valid comparison, 90% is high


I believe there was no fee, but must admit I'm not sure on the LTV as we were just adding to the mortgage.
My 5 year fix is coming to an end in August. I have, 45k to pay off on property bought for 156k 5 years ago, now worth around 190k. Any suggestions about the beat route to go down. I've currently got hsbc 2.99% no fees deal.
rickj1 h, 11 m ago

Where exactly are property prices falling? Announcement yesterday property …Where exactly are property prices falling? Announcement yesterday property prices increases by 7% and average house price is now 225000.


It depends on regions. In london prices have been falling and still is. For the whole of the UK growth is slightly positive compared to last year but thats driven by higher growth in the north west. Last year it was negative so its coming off a lower base. The property market in general is currently unstable due to brexit and the tax changes. It was just a general advice - investing in property is a long term affair. Should there be a price correction in the future, there is higher probability of debt becoming higher than equity. In these cases the banks take over the property as was the case for many properties in the US a few years ago. Just a small advice - take or leave as you see fit.
Shard2 h, 13 m ago

My first mortgage was a 125% mortgage :-) (I didn't default and it was a …My first mortgage was a 125% mortgage :-) (I didn't default and it was a long time ago now). Bear in mind that while you're waiting you're also probably paying rent which is burnt moneyIt's a valid point though, it depends on how long you'll be in the house for


Yes definitely. A long time ago property prices were of better value. The price per sq metre today is exhorbitant and that increases the risk of price correction. I think people should just bear it in mind and weigh their risks. At 125% mortgage i assume you didnt have to remortgage during that time so there was no reassessment of property value? Usually thats when problems start.
ADX214 m ago

Yes definitely. A long time ago property prices were of better value. The …Yes definitely. A long time ago property prices were of better value. The price per sq metre today is exhorbitant and that increases the risk of price correction. I think people should just bear it in mind and weigh their risks. At 125% mortgage i assume you didnt have to remortgage during that time so there was no reassessment of property value? Usually thats when problems start.


I bought the house for about 50K :-) The value has gone up a bit since then
Shard14 m ago

I bought the house for about 50K :-) The value has gone up a bit since then


Ahhh lucky!!! Good old times eh!
ADX211 h, 26 m ago

In current market conditions be careful with 90% LTV purchases. So much …In current market conditions be careful with 90% LTV purchases. So much uncertainty in this market currently that if property prices keep falling, could end up with debt higher than equity which will be a huge problem. Prices are so high that 90% is helpful to get on the ladder with a lower deposit. But be careful and consider waiting until market conditions stabilise...or find a cheaper property (if possible) where can put higher deposit %.


If you need a house and find one you like that you can afford then buy it. No one knows what's going to happen with property prices. They could be 10% lower next year or 10% higher
Dragon3210 h, 30 m ago

We just added to our mortgage with Nation Wide a few days ago with 10 …We just added to our mortgage with Nation Wide a few days ago with 10 years fixed rate and I'm sure it was 2.69%?We were with them already though so don't know if that made a difference, but worth a check.


Were you already on a fix
mart32113 h, 12 m ago

My 5 year fix is coming to an end in August. I have, 45k to pay off on …My 5 year fix is coming to an end in August. I have, 45k to pay off on property bought for 156k 5 years ago, now worth around 190k. Any suggestions about the beat route to go down. I've currently got hsbc 2.99% no fees deal.


HSBC offer some of the best rates out there. Whilst you should always check the market, as an existing customer, with a low LTV (<30%), and assuming you have no intention to move, I’d renew with HSBC on best rate available - you shouldn’t have to pay any Product Fee, and there’d be no legals or valuations required. Take a 5 year fix, and pay it all off in that time with over- payments - you won’t regret it, if you are in a position to overpay. Then boom! The house is all yours in 5yrs time!
Morrow0014th Feb

How long is this offer available for?


Always tricky to tell with mortgages. They don't tend to advertise deals for a length of time - they just update their rates every so often.
Actual rates are below. Its a decent deal overall but going from 3.99% to 7% at 90% LTV is too much of a jump for me.

7% until 31 May 2019,
then
7% until 31 May 2020,
then
7% until 31 May 2021,
then
6% until 31 May 2022,
then
5% until 31 May 2023,
then
4% until 31 May 2024,
then
3% until 31 May 2025
Anon3215th Feb

Were you already on a fix


Yes - we had just come to the end of a 5 year fixed and think that was just under 4%.
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