Residential Additional Borrowing


3 Year Base Rate Tracker Mortgage (90% LTV)

Our 3 Year Base Rate Tracker Mortgage is available up to 90% LTV so your additional borrowing, plus your existing mortgage balance must not exceed 90% of the value of your property.

Please be aware our mortgage products can be withdrawn without notice.

The minimum property value allowed on this mortgage is £50,000, the maximum loan size permitted is £750,000 (see Important Notes).

Initial interest Rate 4.24%Variable (BoEBR + 3.74%) for 3 years from completion. The pay rate will not go below a floor of 1.00%.
For the remainder of the term of the mortgage, changing to our Residential Mortgage Variable Rate (RMVR) currently 4.74% variable
The overall cost for comparison is 4.7% APRC
Early repayment charge [2] None
Overpayments allowed (without an early repayment charge) [3] Yes, up to 10% of original loan each year for 2 years
Application fee [4] £0
Completion fee [4] £0
The APRC is calculated based on the following: A repayment mortgage of £35,000 payable over 22 years 8 months on our variable tracker rate for 3 years at 3.74% above BoEBR and then on our current RMVR variable rate of 4.74%(variable) would require 36 monthly payments of £200.25 and 235 monthly payments of £208.80 followed by a final payment of £138.24. The total amount payable would be £56,415.24 made up of the loan amount plus interest, CHAPS fee of £6. The interest rates quoted include a 0.25% Direct Debit discount.
  1. The maximum loan size available may vary subject to other lending criteria (as well as affordability), which will be assessed during your application. Further information is available from our mortgage team. For Buy to Let, we do not currently lend to applicants who have not had a mortgage before.
  2. Where no Early Repayment Charge (ERC) applies or the ERC period has expired, unlimited overpayments can be made.
  3. Where applicable, the 10% overpayment allowance is per annum and cannot be rolled over. For full details please see your Mortgage Illustration and mortgage offer.
  4. Fees payable at application are non-refundable.
  5. Please note, where separate interest rates apply for different Loan to Values (LTVs), a change in your valuation or loan required may mean you are ineligible for the rate you originally applied for. In this instance you will be advised of the change and asked if you still wish to proceed with your application.
  6. Where stated in the product details, free standard legal fees and a free standard valuation apply. If free standard legal fees apply, there may be some additional legal costs payable where the remortgage is above £1,000,000. A free standard valuation is available on properties valued up to £1,500,000. If you require a Homebuyers Report or Buildings Survey, then the additional cost associated with this report will be incurred by you. These incentives are available to a maximum of one application per applicant(s). For further information please visit our Remortgage Conveyancing Service page.
  7. The product shown is available from Skipton through our Skipton Direct team. There may be other products available through intermediaries.
  8. Monthly payments must be paid in advance by Direct Debit on the 1st of each month. The interest rates quoted include a 0.25% Direct Debit discount. If the Direct Debit is cancelled, the discount is removed.
  9. All mortgages are subject to status and valuation. You must be 18 or over to apply for a mortgage.
  10. A floor applies to all discounted and tracker products. Unless specifically stated otherwise for a particular product, this floor is 0% i.e. no pay rate will ever be less than 0%.
  11. Certain other fees may apply depending upon your circumstances. See our Tariff of Mortgage Charges
  12. Our residential mortgage products are only available as repayment mortgages unless stated otherwise in the product detail. This means that you will pay back capital as well as interest over the term of the mortgage.

APRC - Annual Percentage Rate of Charge
An indicative guide to help you compare the cost of different mortgage deals, taking account of interest rates payable (both during the initial product period and after) and fees.

BoEBR - Bank of England Base Rate
The interest rate at which the Bank of England will lend to the UK banking sector. Set by the Bank’s Monetary Policy Committee (MPC). Also sometimes referred to as the Bank Base Rate (BBR).

DIP - Decision in Principle
A means of collecting key information from prospective borrowers to provide an indication as to whether the Society can accomodate their mortgage needs.

MIL - Mortgage Illustration
A document which must be provided by all mortgage lenders to prospective customers before a mortgage application is submitted. This includes details of rate payments, fees, charges and features.

LTV - Loan-to-Value
The amount of a mortgage loan expressed as a percentage of the value of the property against which the loan will be secured.


RMVR - Residential Mortgage Variable Rate
RMVR was introduced on 14 November 2012. This is the variable rate we normally apply after one of our product incentive deals ends. It is a different interest rate to the Society’s Residential Standard Variable Rate (RSVR), although both are set by the Society. These two interest rates may change by different amounts and at different times. The RMVR does not have any ceiling.


Please see our Mortgages jargon buster for further assistance with mortgage terminology.


Call us

You can speak to a member of our Mortgage team by telephone who will be happy to give you more details about this mortgage and the application process over the phone.

Call Skipton Direct

Mon - Thurs:
8am - 8pm
8am - 5:30pm
9am - 12pm

Phone0345 850 1755

Mortgage Helpline

Phone Call us on 0345 850 1755

8am - 8pm
8am - 5.30pm
9am - 12pm 
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