Mortgages  

Skipton updates two-year rates with lowest ever deal

Skipton updates two-year rates with lowest ever deal

Skipton Building Society will tomorrow (15 January) launch a two-year fix range featuring its lowest ever fixed mortgage rate.

Rates on the new residential range have been reduced by up to 0.69 per cent, with the lender anticipating interest from homebuyers keen to fix their payments over the most popular term length.

Rates are being reduced on all core residential two-year fixes from 50-90 per cent loan-to-value on a total of 26 purchase and remortgage products.

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The society’s revised range for purchasers includes its lowest ever fixed rate at 1.36 per cent - down from 1.59 per cent - to 50 per cent LTV with a £995 fee.

The biggest rate reduction is a two-year fix at 3.09 per cent - down from 3.78 per cent - on up to 90 per cent LTV with £995 fee.

For those wishing to remortgage, the range includes a fee free two-year fixed rate up to 60 per cent LTV deal at 1.95 per cent - from 2.22 per cent - and a two-year fixed rate to 85 per cent LTV at 2.59 per cent - was 2.99 per cent - with £995 fee.

Kris Brewster, the society’s head of products, said Skipton has made major investment in its mortgage call centre, while its Real Life Lending programme provides support for brokers across the country.

“We will continue to innovate in 2015 and introduce new products and services for the benefit of our customers and brokers.”

Last week Skipton introduced a new residential two-year discount mortgage range with rates from 1.69 per cent.

peter.walker@ft.com