Consumers looking to
find a mortgage, such as
first-time buyers, might wish to consider Skipton's new three-year
tracker capped mortgage.
The
tracker mortgage, which tracks at 0.25 per cent above the
Bank of England base rate (4.5 per cent as of June 7th 2006), is also capped at 5.5 per cent for three years.
John Goodfellow, chief executive of Skipton
building society, commented, "We are continually developing our extensive range of
great mortgages and this one definitely ticks all the boxes with a fantastic rate.
"We are expecting it to be a popular option, especially for those
borrowers, such as first-time
buyers or couples with young families, who have to keep a tight rein on their
finances ."
Other features of the tracker
mortgage are free
legal fees and
free valuation on all
residential remortgage cases, free accident, sickness and
unemployment insurance for six months and no application fee.
However, there is a £449
completion fee, although this can be added to the
loan .
Several other providers have recently launched new
tracker mortgages, while experts at Alliance &Leicester have stated that first-time buyers are making a "comeback" this year.
