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Skipton launches 3-year tracker mortgage

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Consumers looking to find a mortgage, such as first-time buyers, might wish to consider Skipton's new three-year tracker capped mortgage.

The tracker mortgage, which tracks at 0.25 per cent above the Bank of England base rate (4.5 per cent as of June 7th 2006), is also capped at 5.5 per cent for three years.

John Goodfellow, chief executive of Skipton building society, commented, We are continually developing our extensive range of great mortgages and this one definitely ticks all the boxes with a fantastic rate.

We are expecting it to be a popular option, especially for those borrowers, such as first-time buyers or couples with young families, who have to keep a tight rein on their finances.

Other features of the tracker mortgage are free legal fees and free valuation on all residential remortgage cases, free accident, sickness and unemployment insurance for six months and no application fee.

However, there is a �449 completion fee, although this can be added to the loan.

Several other providers have recently launched new tracker mortgages, while experts at Alliance Leicester have stated that first-time buyers are making a comeback this year.

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