Skipton set to slash rates by up to 0.38%

Skipton Building Society will tomorrow reduce rates across its three- and five-year residential fixed mortgages by up to 0.38 per cent.

The biggest cut will be to an 85 per cent LTV three-year deal, which will fall from 3.99 per cent to 3.61 per cent. No fees are attached.

A 60 per cent LTV three-year fix will be reduced 0.11 per cent to 2.77 per cent with no fees attached.

The lender will reduce two 75 per cent LTV three-year fixed rates. A fee-free product will be cut 8 basis points to 3.07 per cent. The fee-paying option is to be offered at 2.78 per cent, down 11 basis points. A £195 application fee and £800 booking fee apply.

A 90 per cent LTV deal will be cut 0.18 per cent to 4.52 per cent with £195 application fee and £800 completion fee.

Across the five-year fixed range, the biggest reduction will be to a 60 per cent LTV deal, cut from 3.49 per cent to 3.22 per cent, with no fees.

A 75 per cent LTV deal will be cut 22 basis points from 3.70 per cent to 3.48 per cent. No fees are attached.

Skipton BS head of products Kris Brewster says: “We are continually looking to offer competitive rates on our mortgage range and by reducing rates on our three- and five-year fixed products, with a variety of fee options, we believe they will be attractive to homebuyers and remortgage customers wanting the security of fixing their mortgage payments over a longer period of time.”