Skipton increase mortgage rates to better manage demand.
Britain's fourth largest building society has announced that with immediate effect mortgage rates on certain products within its range have increased.
The lender advises that the reason for the decision is because of unprecedented demand from borrowers.
Included in its range of products which will now be set a higher levels, are 2, 3 and 5 year fixed rate mortgages. Its 2 and 3 year deals will increase by around 0.5% and its 5 year deals by 0.2%.
The largest increase announced is to its 2 year fix for up to 80% LTV, the increase is in excess to the 0.5% announced at 0.71%.
Skipton are just one of several lenders who have increased their fixed rates in recent months, others include the Chelsea BS, the Halifax and Virgin.
With predictions of more rate increases to come over the next few months, you are advised to look around and find yourself a cheap deal while you still can.
Whether you are looking to move house, remortgage or buy a first home, a call to us at Deal Direct can get you a great deal at a rate that is suited to your financial needs.
For impartial advice and a low rate mortgage quote,
speak to us today on 0800 048 8828.
