Skipton Product Transfer Rates for Existing Customers
Switching your Skipton Building Society mortgage can be a great option for existing customers. This is called a Skipton product transfer, allowing you to switch to a new mortgage deal without changing lenders. Our team make the process quick and easy and can be done in minutes.
This page will cover everything you need to know about switching your mortgage, current Skipton product transfer rates for existing customers and how a mortgage broker can help. Get in touch for free mortgage advice.
Why Stay with Skipton?
Early Rate Lock: You can lock in a new Skipton mortgage rate up to 6 months before your current deal ends.
Quick Processing: No additional underwriting for standalone product transfers.
Flexible Options: You can change the product and mortgage payments before completion.
No broker fees: We don’t charge anything for our service.
Same-day service: We’ll process your transfer today.
Paperless process: No paperwork required.
No valuations needed: No need for property valuations.
No credit scoring: Your credit score won’t be affected.
Note: Further advances, term changes, home moves, and removal of a borrower will still require standard underwriting.
- A TREE PLANTED FOR EVERY MORTGAGE
Skipton Product Transfer Criteria
To transfer your mortgage with Skipton Building Society mortgages, you must:
Your current Skipton mortgage rate is ending within six months or
You are on the Skipton Mortgage variable rate.
Your Skipton account is not in arrears.
You do not have Consent to Let on your Skipton Mortgage Account.
Your loan-to-value is 90% or less.
Other Changes to Your Skipton Mortgage
We can also help with:
Additional borrowing
Changing the term of your mortgage
Changing repayment type from interest-only to capital repayment
The following will trigger an automatic affordability check:
Changing the repayment type of your Skipton Mortgage.
Reducing the mortgage term.
Increasing the mortgage term, which takes the mortgage into retirement.
Skipton Product Transfer Rates for Existing Customers
Skipton mortgage customers can get fixed-rate mortgages for different loan-to-value ratios. Below are the current Skipton product transfer rates for existing customers as of 15th August 2024.
Skipton Residential Mortgage rates for Existing Customers
Below are the current residential mortgage rates for existing customers for 65% to 75% loan-to-value fixed, and tracker.
5-Year Fixed Rates
| Type | Rate | Term | LTV | Fee |
|---|---|---|---|---|
| 5 year fixed | 4.39% | 5 years | 60% | £0 |
| 5 year fixed | 4.29% | 5 years | 60% | £1,295 |
| 5 year fixed | 4.49% | 5 years | 75% | £0 |
| 5 year fixed | 4.39% | 5 years | 75% | £1,295 |
2-Year Fixed Rates
| Type | Rate | Term | LTV | Fee |
|---|---|---|---|---|
| 2 year fixed | 4.94% | 2 years | 60% | £0 |
| 2 year fixed | 4.79% | 2 years | 60% | £495 |
| 2 year fixed | 5.06% | 2 years | 75% | £0 |
| 2 year fixed | 4.90% | 2 years | 75% | £495 |
2-Year Tracker Rates
| Type | Rate | Term | Fee | LTV |
|---|---|---|---|---|
| 2 year tracker | 5.60% | 2 years | £995 | 60% |
| 2 year tracker | 5.70% | 2 years | £995 | 75% |
| 2 year tracker | 5.80% | 2 years | £995 | 85% |
Skipton Buy-to-let Mortgage rates for Existing Customers
Below are the current buy-to-let mortgage rates for existing customers for 65% to 75% loan-to-value fixed, and tracker.
2-Year Fixed Rates
| Type | Rate | Term | Fee | LTV |
|---|---|---|---|---|
| Fixed | 5.40% | 2 years | £0 | 60% |
| Fixed | 5.10% | 2 years | £995 | 60% |
| Fixed | 5.85% | 2 years | £0 | 75% |
| Fixed | 5.55% | 2 years | £995 | 75% |
5-Year Fixed Rates
| Type | Rate | Term | Fee | LTV |
|---|---|---|---|---|
| 5 year fixed | 4.85% | 5 years | £0 | 60% |
| 5 year fixed | 4.65% | 5 years | £1,295 | 60% |
| 5 year fixed | 5.26% | 5 years | £0 | 75% |
| 5 year fixed | 5.05% | 5 years | £1,295 | 75% |
The Skipton standard variable rate is currently 6.79%. If you are on this rate, exploring a product transfer on your mortgage balance may be beneficial to secure a lower interest rate. You will have no early repayment charge and therefore the process could be quick and you will benefit from a new monthly payment.
What Happens to Your Monthly Mortgage Payments?
Your monthly mortgage payments may change when you switch your mortgage. If you opt for a lower interest rate or extend your mortgage term, your payments may decrease. Conversely, if you shorten your mortgage term or interest rates increase, your payments may rise.
Mortgage Repayment Calculator
Skipton Mortgage Product Transfer – How it works
Did you know you can switch rates with a Skipton product transfer on the same day?
Get in Touch: Call us or use our secure online Skipton mortgage application form.
Review Options: We will check your current mortgage balance and the Skipton Mortgage deals available and email a mortgage illustration.
Get Advice: Our team will help you choose your best option.
Request Offer: Once you’ve decided, our mortgage team will request an offer based on the new rate and any additional borrowing.
Approve Offer: If you approve your offer, your new rate will be secure and ready to switch when your current rate ends.
Skipton Mortgage Product Transfer Benefits
Lock in a Rate Up to 6 Months Early: Get your new rate well in advance.
No Broker Fees: We won’t charge you extra.
Same-Day Service: We’ll process your transfer on the same day.
Paperless Process: No paperwork is required.
No Valuations: No property valuations are needed.
No Credit Scoring: Your credit score won’t be affected.
Note: Further advances, term changes, home moves and removal of a borrower will still require full underwriting.
Use a Mortgage Broker for your Skipton Product Transfer
A mortgage broker can be a lifesaver when switching rates. They’ll give you expert advice, explain the options and guide you through the process.
At YesCanDo Money, we offer free, full-service mortgage broking to help you through the mortgage product transfer. We’ll do the paperwork, give you mortgage advice, and get you the best deal—all for free. Our team of experienced brokers will make it as smooth as possible for you and save you time and hassle.
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Exclusive Broker Rates
- Free Mortgage Services Available
- We submit the mortgage application for you
- Team of expert online mortgage advisers
- Amazing communication via WhatsApp, email and SMS.
- Access to 90+ UK mortgage lenders
Product Transfer Form
Please provide us with your mortgage details in the form below. Once we receive your information, one of our fee-free mortgage advisers will be in touch to discuss your mortgage rate switch options. We are here to help you find the best rates and terms tailored to your needs.
Frequently Asked Questions
The following are some of the questions that are most regulary asked about Skipton product transfer. It might be that the answers to your questions are covered here but if not, check in with the team at YesCanDo Money today for further guidance.
When will my mortgage product transfer happen?
Your mortgage product transfer will happen the day after your current mortgage product term ends. If you’re on the standard or mortgage variable rate, the change will happen on the 1st of the next month.
What if I don’t agree with the auto valuation of my property?
Skipton Building Society values your property using ONS statistics (UK House Price Index). You can request a manual valuation, but this will incur a fee.
How do I cancel my Skipton product transfer?
You can cancel an application anytime before the new rate takes effect. Usually, you can do this online or by calling the existing customer team.
Can I be declined a product transfer mortgage?
Yes, it’s possible. However, if you’re changing your current mortgage, such as the loan amount or term, mortgage lenders may decline your application.
Can I change a mortgage product after an offer?
Yes, you can switch to a different mortgage deal before completion. You may need to pay any outstanding product and new deal fees.
Can I switch my Skipton mortgage early?
If your current fixed rate period ends soon, you can switch to a selection of mortgage products without an early repayment charge. But timing is everything – remortgage too early, and you’ll be charged an early repayment charge. If you’re on the Standard Variable Rate, there’s no charge.
Can I change my mortgage term Skipton?
You can change your mortgage term when switching to a new deal. Talk to your mortgage broker or Skipton directly to discuss options.
How long does a mortgage switch take?
The process is very quick, almost instant. You can get a personalised quote online in 10 minutes, and no new credit checks are required.
What’s the porting period for Skipton mortgages?
When porting your mortgage with Skipton, the porting period is usually within six calendar months of your current mortgage rate’s end date (expiry). During this period, you can transfer your mortgage without incurring an Early Repayment Charge (ERC).
Is a remortgage the same as a product transfer?
The term “remortgage” can be used in two ways. It can mean switching your mortgage to a different lender, but it can also mean changing your mortgage deal with your existing lender, which is essentially the same as a product transfer. Both involve switching to a new mortgage product with your existing lender. Both can get you a better rate, but they are different processes.
What do I need for a product transfer?
You won’t need many documents for a product transfer, but it’s a good idea to have your existing mortgage details and ID ready to hand.
Do I need bank statements for a product transfer?
No, bank statements are not required for a product transfer. But always check with your broker or Skipton to be sure.
Grant Humphries (CeMAP)
Grant Humphries (CeMAP) is a proficient Mortgage & Protection Adviser at YesCanDo Money. With a career spanning since 2001, Grant has honed his expertise in understanding mortgage lenders' criteria, complex financial situations, and the nuances of the mortgage market. His deep knowledge enables him to provide tailored solutions, especially for professionals and those with unique financial profiles. At YesCanDo, Grant's commitment to excellence is evident. He takes pride in guiding clients through their mortgage journey, ensuring they feel confident and informed at every step. From first-time buyers to seasoned investors, Grant's analytical approach and dedication make him a trusted adviser in the financial landscape
