5 Year Fixed Rate Mortgage for Help to Buy


5 Year Fixed Rate Help to Buy Mortgage (75% LTV) Standard fee for Purchases & Remortgages.

Our Fixed Rate Help to Buy Mortgage is available up to 75% LTV. We will require a deposit of at least 5% from you, depending on the size of the government loan from the Homes and Communities agency of up to 20% of the property value for England and Wales, 15% for Scotland and 40% for London. There are no application fees to pay with this mortgage.

The minimum property value allowed on this mortgage is £50,000, the maximum property value permitted is £600,000 in England (£300,000 in Wales, £200,000 for purchases in Scotland which complete on or before 31 March 2019).

Please be aware our mortgage products can be withdrawn without notice.

With a fixed rate mortgage, you'll be protected from interest rate increases during the fixed term, but won’t benefit from a fall in interest rates.

The interest rates quoted include a 0.25% Direct Debit discount.

Initial interest Rate 2.27% Fixed until 31/07/2024
For the remainder of the term of the mortgage, changing to our RMVR currently 4.99% variable
The overall cost for comparison is 4.2% APRC
Early repayment charge [2] 5% until 31 July 2020,
5% until 31 July 2021,
4% until 31 July 2022,
3% until 31 July 2023,
2% until 31 July 2024
Overpayments allowed (without an early repayment charge) [3] Yes, up to 10% of original loan each year until 31 July 2024
Application fee [4] £0
Completion fee [4] £995
The APRC is calculated based on the following: A repayment mortgage of £230,000 payable over 32 years 1 month initially on a rate fixed until 31/07/2024 at 2.27% and then our RMVR variable rate currently 4.99% for the remaining term would require 59 monthly payments of £844.75 and 325 monthly payments of £1,151.34 followed by a final payment of £443.25. The total amount payable would be £424,469.00 made up of the loan amount plus interest, Completion fee of £995, CHAPS fee of £6. The interest rates quoted include a 0.25% Direct Debit discount.
  1. Where no Early Repayment Charge (ERC) applies or the ERC period has expired, unlimited overpayments can be made.
  2. The 10% overpayment allowance is per annum and cannot be rolled over. For full details please see your Mortgage Illustration and mortgage offer.
  3. Fees payable at application are non-refundable.
  4. 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.
  5. The product shown is available from Skipton through our Skipton Direct team. There may be other products available through intermediaries.
  6. 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.
  7. All mortgages are subject to status and valuation. You must be 18 or over to apply for a mortgage.
  8. 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%.
  9. You are required to appoint your own solicitor or licensed conveyancer to act jointly for you and us and you are responsible for all costs
  10. 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.

Additional Notes for the Help to Buy Equity loan

  • Maximum term for the Help to Buy equity loan is 35 years. The Help to Buy equity loan cannot last longer than the Skipton mortgage term.
  • The Help to Buy equity loan can be repaid in whole or in part at any time. Part repayments must be at least 10% of the property value.
  • You cannot rent out your existing home and buy a second home through Help to Buy.
  • The Help to Buy Skipton mortgage must be repaid on a capital and interest basis.
  • Help to Buy customers wishing to take additional borrowing in the future must first seek approval from their appointed Home Buy agent.
  • The property purchased must be your only residence. Help to Buy is not available to assist buy-to-let investors or those who will own any property other than their Help to Buy property after completing their purchase.
  • For full details of the scheme, refer to the Help to Buy website.

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 accommodate 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.


Start your application

You can start your application by obtaining a Decision in Principle (DIP) which takes around 30 minutes to complete, once you have the relevant information to hand.

  • You will need your salary and employment details/2 years’ worth of accounts or an accountant's certificate if you are self employed
  • details of your existing mortgage(s), if you already have one
  • details of your current financial commitments and loans

We will ask you for specific information about your income and outgoings, following which we will provide you with a decision about the amount of loan which could be available to you and whether we will be able to provide you with a mortgage. The DIP is not a cost quotation for a particular mortgage product but an indicator of how much we would be prepared to lend you. A more detailed quotation will be provided to you in the form of a Mortgage Illustration later in the application process.

Once you have this initial lending decision, our mortgage team will book a telephone or video appointment with a qualified Mortgage Adviser. They will advise you on products which are most suitable for you and assist you in making a full mortgage application.

Please note, an application for a DIP involves the Society carrying out a credit check on you. This will leave a credit footprint which may affect your credit rating.

Decision in Principle - Important Notes

  • Applicant(s) must be at least 18 years of age and must be a UK resident or EEA citizen or have indefinite leave to remain.
  • The property must be in the UK. (NB Currently we do not lend in Northern Ireland)

Call us

You can speak to one of our mortgage team by telephone who will be happy to give you more details about this mortgage, the application process and how to obtain a DIP.

Call Skipton Direct

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

Phone0345 850 1755

Need help?

Phone Call Skipton Direct 0345 850 1755

8am - 8pm
8am - 5.30pm
9am - 12pm
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