Mortgages  

Skipton cuts rates on two and three year fixes

Skipton Building Society has reduced the interest rates on its two and three year fixed rate residential mortgages by up to 0.4 per cent, with immediate effect.

It has cut rates on three two-year residential fixes and two three-year fixed-rate mortgages, all of which have an 85 per cent loan to value.

One deal has been cut from 2.99 per cent to 2.59 per cent, with the loan also carrying a £195 application fee and a £1,800 completion fee. Another rate has been cut from 3.28 per cent to 2.89 per cent with a £195 application fee and a £300 completion fee, while a third is down from 3.58 per cent to 3.29 per cent, with this last having no application or completion fee.

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Skipton has also cut rates on two three-year residential fixes: one is available at 3.46 per cent, previously 3.58 per cent with a £195 application fee and a £300 completion fee; the second has a rate of 3.65 per cent, previously 3.88 per cent, with no application or completion fee.

Kris Brewster, Skipton’s head of products, said: “Customers are already enjoying peace of mind knowing that their mortgage payments will not increase for a fixed period, no matter what happens with the Bank of England base rate.

“We have now made these products even more attractive by introducing interest rate reductions on our two and three year fixed rate mortgages.

“These latest reductions ensure they remain among the best value available as we continue to lend strongly in line with our commitment to helping people to achieve their homeownership aspirations.”