Skipton Building Society was established in 1853. Today Skipton ranks 7th largest UK building society and is a leading financial services provider, with around £8.6 billion in assets. It is run for the benefit of its members and is committed to remaining mutual. As a mutual organisation it does not have shareholders to pay dividends to, instead it can re-invest profits to provide more competitive rates. Skipton operates through 79 branches from Aberdeen to Plymouth.

Skipton has the following types of mortgages to offer:

Fixed Rate
Tracker
Discount
Variable Rate

Fixed Rate: your starting rate will be fixed for an agreed interval. Skipton has fixed rate mortgages for 2, 3 and 5 years. After the fixed rate period is over your mortgage will convert to Skipton’s standard variable rate.

There is an early repayment fee during the fixed rate period
Legal and Valuation fees are waived if these products were part of a re-mortgage deal
You can make overpayments of up to 10% of the original loan without having to pay an early repayment charge during the fixed period
A completion fee is applicable
An application fee may apply

Skipton has two types of tracker rate mortgages:

Base Rate Tracker: your rate is set above the Bank of England Base Rate for 3 a year period. After the tracker rate period your mortgage goes back to Skipton’s standard variable rate.

There is no early repayment fee
Legal and Valuation fees are waived if these products were part of a re-mortgage deal
You can make overpayments of up to 10% of the original loan without incurring an early repayment charge
A completion fee is payable
An application fee is payable

Base Rate Tracker Plus: your rate is set at the Bank of England Base Rate for a 1 year period, then it is set above the Banks of England Base Rate for the next 2 years. After the tracker rate period your mortgage goes back to Skipton’s standard variable rate.

There is an early repayment fee during the tracker rate period
Legal and Valuation fees are waived if these products were part of a re-mortgage deal
You can make overpayments of up to 10% of the original loan without incurring an early repayment charge for 3 years
A completion fee is payable
An application fee is payable

Discount mortgages: your starting rate will be set at a discount off Skipton’s standard variable rate for an agreed interval. Skipton has a 3 year discount mortgage, a 3 year discount re-mortgage and a 3 year stepped discount. After the discount period your rate will convert to Skipton’s standard variable rate.

Legal and Valuation fees are waived if these products were part of a re-mortgage deal
You can make overpayments of up to 10% of the original loan without incurring an early repayment charge for 3 years
A completion fee is applicable
There is no application fee

Variable Rate: your rate is capped for an agreed interval, during which it will not go above this rate. For the first 2 years you will also receive a discount off the Skipton’s standard variable rate. After this your mortgage will convert to the Skipton’s standard variable rate.

There is an early repayment fee
Legal and Valuation fees are waived if these products were part of a re-mortgage deal
You can make overpayments of up to 10% of the original loan without incurring an early repayment charge
A completion fee is applicable
There is no application fee

Skipton also offers Buy to Let mortgages:

Discount
Discount Plus
Fixed

Discount: your rate will be set at a discount of Skipton’s buy to let standard variable rate. After this discount period your mortgage will convert to Skipton’s buy to let standard variable rate.

There is no early repayment charge
Legal and Valuation fees are waived if these products were part of a re-mortgage deal
You can make overpayments of up to 10% of the original loan without incurring an early repayment charge
A completion fee is payable
An application fee is payable

Discount Plus: your rate will be set at a discount off Skipton’s buy to let standard variable rate. After this discount period your mortgage will convert to Skipton’s buy to let standard variable rate.

There is an early repayment charge
Legal and Valuation fees are waived if these products were part of a re-mortgage deal
You can make overpayments of up to 10% of the original loan without incurring an early repayment charge
A completion fee is payable
An application fee is payable

Fixed: your starting rate is fixed for an agreed interval. After the fixed rate period is over your mortgage will convert to Skipton’s buy to let standard variable rate.

There is an early repayment charge
Legal and Valuation fees are waived if these products were part of a re-mortgage deal
You can make overpayments of up to 10% of the original loan without incurring an early repayment charge
A completion fee is payable
An application fee is payable

If you are a current Skipton customer you can borrow money in an additional loan:

Your borrowing interest rate is either set at the Skipton standard variable rate or at a fixed rate.

There is no early repayment charge
Your additional borrowing must not exceed 95% LTV
You can make overpayments of up to 10% of the original loan without incurring an early repayment charge
A completion fee is payable
An application fee is payable