Mortgages  

Skipton cuts 2-year fixed rates by up to 0.56 per cent

Skipton Building Society is tomorrow (20 November) lowering interest rates by as much as 0.56 per cent on its two-year residential fixed rate mortgage range.

The new range offers rates with a choice of fee and rate blends to maximise choice and flexibility, with the lender stating they will attract interest from homebuyers keen to fix payments in light of a possible 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 on a total of 36 purchase and remortgage products.

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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 (was 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 (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).

Deals with lower interest rates and higher fees 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 a remortgage deal for 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, said that the two year term was its most popular fixed term. “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.”

peter.walker@ft.com