Skipton cuts rates on two-year fixed range

The Society anticipates the range will attract plenty of interest from homebuyers keen to fix their payments with the continuing possibility of a Bank of England base rate increase.

Rates are being reduced on all core residential two-year fixes, from 50 per cent to 85 per cent loan-to-value (LTV), on a total of 36 purchase and remortgage products. The new range offers a choice of fee and rate blends to maximise choice and flexibility.

Fee-free products:

The Society’s revised range for purchasers includes a fee-free two-year fixed rate to 60 per cent LTV at 1.95 per cent (down from 2.34 per cent) and a fee-free two-year fixed rate to 80 per cent LTV at 2.59 per cent (down from 2.99 per cent).

For those wishing to remortgage, the fee-free range includes a two-year fixed rate to 50 per cent LTV at 2.01 per cent (was 2.18 per cent), a two-year fixed rate to 70 per cent LTV at 2.24 per cent (was 2.39 per cent) and a two-year fixed rate to 75 per cent LTV at 2.29 per cent (was 2.85 per cent).

Lower rate products with fees:

For those who would rather choose fees and a lower interest rate, purchase products include a two-year fixed rate to 85 per cent LTV at 2.64 per cent (was 2.98 per cent) with a fee of £1,995, and remortgage products include a two-year fixed rate to 60 per cent LTV at 1.85 per cent (was 2.04 per cent) with a fee of £995.

Kris Brewster, the Society’s head of products, comments:

“We are delighted to offer some of the most competitive two year fixed rate mortgage deals around. Lowering interest rates across 36 products means that we can offer our existing and new customers great value products over what is our most popular fixed term, two years.

“We continue to strive to offer our customers best value by constantly monitoring the marketplace and adjusting our products and interest rates to make sure they remain attractive. These latest reductions ensure they remain among the best value available.”