Skipton launch the best mortgage deal for higher value homes.
Skipton recently announced the launch of a new mortgage which it says is the best mortgage deal for financing an expensive home.
The lender plans to launch a whole new range of cheaper mortgage deals for higher value property, however fees charged will be up to £2000.
For those looking for a mortgage for a high value home, high fees can be more easily justified if its means gaining access to a low rate offer. Over a large mortgage a low rate but high fee can work out cheaper than a low fee but high rate.
The minimum mortgage advance is £250,000, for those approved for a mortgage a 2 year fixed rate is available for 60% loan to value at 2.99%.
While fees are high the lender has justified this by saying higher fees allow it to set its very best mortgage rates at highly competitive levels. Skipton is keen to point out that its best high value mortgage deal still offers good value even after factoring in both fees and rates. Remortgage deals are fee free.
Those approved for what Skipton considers as one of the best mortgage deals for a high value home will be subject to an early repayment charge of 3% of the capital repaid plus any interest accrued.
For the best mortgage deals on offer call Deal Direct. We have access to the entire UK mortgage market and will find the right mortgage for your needs.
Call an adviser today for a quote.
