Download the Skipton Commercial Mortgage Range (pdf)
We calculate your mortgage interest on a daily basis. This means that every time you make an overpayment of any size, the amount on which interest is calculated is reduced immediately. You can make overpayments of any size over and above your normal monthly payments at any time. For fixed rate mortgages you can make overpayments of any size, but if you make a payment of over 10% of the original loan in any year during the fixed rate period, you will incur an early repayment charge. Therefore, if you are in a position to make overpayments you could save hundreds, maybe thousands of pounds of interest over the life of your mortgage, benefit from lower monthly payments, or dependent on the type of the mortgage you have, choose to reduce the mortgage term - it’s your choice!
YOUR PROPERTY MAY BE REPOSSESSED IF YOU DO NOT KEEP UP REPAYMENTS ON YOUR MORTGAGE.