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Skipton cuts rates by up to 0.49% from tomorrow

Skipton Building Society is launching a range of fixed and tracker mortgages, with rates starting from 2.39 per cent.

Reductions of up to 0.49 per cent have been applied to the range of two and five-year fixes and a number of its two-year trackers

The largest cut is to the two-year fixed rate up to 90 per cent which has been cut by 0.49 per cent, from 5.48 per cent to 4.99 per cent.

The single largest cut on the five-year fixed range is to the 60 per cent LTV product, the rate on which has been reduced by 0.41 per cent, from 3.49 per cent to 3.08 per cent

Skipton’s head of products Kris Brewster says: “With the interest rate landscape currently looking like it could remain exceptionally low for some time yet to come, we decided it is time to re-introduce tracker products to our range.

“We have seized the opportunity to introduce some new, competitively priced, tracker deals, to provide an additional element of choice for those customers preferring to take the risk of a potential rate rise, in return for a slightly lower rate up front.

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