New Residential Base Rate Trackers from Skipton
Dear Intermediary,
We are launching a new range of residential 2 Year Base Rate Tracker products tomorrow morning (9am on Wednesday 5 October) . This new range includes some new low fee products at 75% and 85% LTV, as well as a streamlining of our current tracker range, with the products at 50%, 65% and 70% LTV being withdrawn and not replaced.
Please note that although rates on the majority of the new products will be the same, the new products will have a collar applied to them, which will be the same as the current pay rate. For example, for the 60% LTV tracker at 1.98% (BOE + 1.48%) the minimum rate on this product will be 1.98%.
The new range of products will be as follows:
Description |
Rate |
LTV |
App fee |
Comp Fee |
Available for |
2 Year Base Rate Tracker |
1.98% |
60% |
£195 |
£1,800 |
Purchase and remortgage business |
2 Year Base Rate Tracker |
2.38% |
60% |
£195 |
£800 |
Purchase and remortgage business |
2 Year Base Rate Tracker |
2.68% |
75% |
£195 |
£800 |
Purchase and remortgage business |
2 Year Base Rate Tracker |
2.98% |
75% |
£195 |
£0 |
Purchase and remortgage business |
2 Year Base Rate Tracker |
3.08% |
80% |
£195 |
£800 |
Purchase and remortgage business |
2 Year Base Rate Tracker |
3.78% |
85% |
£195 |
£800 |
Purchase and remortgage business |
2 Year Base Rate Tracker |
3.98% |
85% |
£195 |
£0 |
Purchase and remortgage business |
The current range of residential 2 Year Base Rate Tracker products will therefore be withdrawn at close of business tonight (5pm on Tuesday 4 October) . The following products will be withdrawn:
Description |
Rate |
LTV |
App fee |
Comp Fee |
Available for |
2 Year Base Rate Tracker |
1.99% |
50% |
£195 |
£800 |
Purchase and remortgage business |
2 Year Base Rate Tracker |
1.98% |
60% |
£195 |
£1,800 |
Purchase and remortgage business |
2 Year Base Rate Tracker |
2.28% |
60% |
£195 |
£800 |
Purchase and remortgage business |
2 Year Base Rate Tracker |
2.38% |
65% |
£195 |
£800 |
Purchase and remortgage business |
2 Year Base Rate Tracker |
2.48% |
70% |
£195 |
£800 |
Purchase and remortgage business |
2 Year Base Rate Tracker |
2.68% |
75% |
£195 |
£800 |
Purchase and remortgage business |
2 Year Base Rate Tracker |
3.08% |
80% |
£195 |
£800 |
Purchase and remortgage business |
2 Year Base Rate Tracker |
3.78% |
85% |
£195 |
£800 |
Purchase and remortgage business |
Applications for these withdrawn products can be submitted until 5pm tonight (Tuesday 4 October) via our e-mortgages system. Any required supporting documentation for new cases submitted, including an e-declaration signed by the customer(s), should also be uploaded following submission on our e-mortgage site or should be received by our Mortgage Service Centre by 5pm on Tuesday 11 October. For any existing pipeline cases on these products ALL support documentation should again be uploaded & sent to arrive before the Tuesday 11 October deadline. Cases not meeting these requirements will be cancelled. All application fees, where relevant, will be collected within 48 hours.
Please visit our website from Wednesday to find full details of these new products where you can also view our attractive range of residential Fixed Rates.
Paul Darwin
Head of Intermediary Sales