Skipton Building Society has launched one of the lowest five-year fixed rate mortgages.
Their 2.65% rate is aimed at borrowers looking to purchase a property and it has an APR of 4.79%.
In order to access this rate, Skipton requires borrowers to put down a rather large 50% deposit and pay a £1,995 arrangement fee.
If you want to remortgage to the building society the rate will increase by 0.10%.
Aaron Strutt, product manager at Trinity Financial, said: “Some of the lenders are offering great five-year fixes at the moment and borrowers don’t need a huge deposit to access them. The increase in competition has certainly helped to drive down rates and arrangement fees.”
After the fixed rate period the mortgage will revert to the lenders standard variable rate, currently 4.99%. Early repayment charges apply for the full five-year period.
If you would like help to secure a leading five-year fixed rate mortgage, call Trinity on 020 7016 0790.