Skipton cuts 2 and 3 year fixed rates

Skipton Building Society has cut rates by up to 20 basis points on a selection of two and three-year fixed mortgages.

A two-year fix up to 80 per cent LTV is down from 2.88 per cent to 2.68 while the 85 per cent LTV option is also cut by 0.20 per cent from 3.58 per cent to 3.38 per cent. A no-fee option is offered at 3.68 per cent.

Across the three-year range, the 80 per cent LTV product is down 9 basis points to 3.19 per cent and the 85 per cent LTV mortgage is now offered at 3.68, down 0.20 per cent. The no-fee option for this loan is also down 20 basis points to 3.98 per cent.

All of the above products are available to both purchasing and remortgaging customers. The fee-paying products carry a £195 application fee and a completion fee of £800.

Skipton head of products Kris Brewster says: “For some time now, the market’s most competitive deals have focused on the lowest LTVs, at around 60 per cent and 75 per cent.

“We felt that the renewed confidence which is starting to filter through provided an ideal opportunity to extend lower rates to LTVs up to 85 per cent.”