Benefits of a Skipton Mortgage

Your home may be repossessed if you do not keep up repayments on your mortgage. If you have a Buy to Let mortgage and you fail to keep up with payments on your mortgage, a 'receiver of rent' may be appointed and/or your rental property may be repossessed. Most Buy to Let mortgages are not regulated by the FCA.

When taking out a mortgage, you might appreciate the support of someone experienced on your journey. From paying your standard legal costs when you remortgage, to giving you your own dedicated mortgage adviser, at Skipton Building Society we like to go further.

Personal adviser

You get your own dedicated mortgage adviser to offer help, information and advice, for all personal and Buy to Let mortgage purchases and remortgages, to ensure you get the right mortgage to suit you.

Product options

We offer a variety of different mortgage products, at fixed or variable rates, with deal periods from 2 to 5 years (occasionally, longer terms are available; e.g. 7 or 10 years), and a range of fee structures to suit different customer requirements, including fee-free and low-fee options.

Mix and match

If appropriate, your mortgage adviser may be able to recommend a combination of products to suit your personal requirements. In such cases, the highest product fee of those chosen will apply.

Daily interest

By calculating the interest you pay on a daily basis, we potentially help you save thousands of pounds over the life of your mortgage. This means that any overpayments you make will immediately reduce the balance on which interest is calculated. 

Overpayments

Most of our mortgage deals allow overpayments of up to 10% per year without charge even on products that come with an Early Repayment Charge (ERC). This option could allow you to pay your mortgage off earlier than planned, potentially saving you thousands of pounds in interest. Some products may allow unlimited overpayments. Where Early Repayment Charges apply, full details can be found in your Mortgage Illustration.

Payment holidays

If you’ve made overpayments, we offer the option of payment holidays, giving you a break from mortgage payments for up to three consecutive months.

You can take payment holidays once you have had your mortgage with Skipton for six months, but you will need to contact us on 0345 850 1766 in order to discuss this further. As long as you have had no arrears, the holiday proposed would not take the Loan to Value (LTV) of your mortgage above 95%, and there are sufficient surplus payments to cover the holiday, you may take up to three consecutive months' holiday. You cannot take more than a total of six months in any 12 month period. Of course, whilst you do not need to make payments during the holiday, interest will continue to be added to your account and your balance and subsequent payments will increase.

Portability

Our products maybe portable, meaning you may be able to take your mortgage deal with you if you choose to move house, subject to lending criteria. Full details are in your Mortgage Illustration (MIL).


Need help?

Call Skipton Direct

Mon - Thurs
8:00am - 8:00pm
Fri
8:00am - 5:30pm
Sat
9:00am - 12:00pm
Your home may be repossessed if you do not keep up repayments on your mortgage. If you have a Buy to Let mortgage and you fail to keep up with payments on your mortgage, a 'receiver of rent' may be appointed and/or your rental property may be repossessed. Most Buy to Let mortgages are not regulated by the FCA.
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