Mortgages  

Skipton revises two and five-year fixed rates

Skipton revises two and five-year fixed rates

Skipton Building Society has launched a revised range of two and five-year fixed rate residential mortgages, with rates lowered by up to 0.17 per cent.

Purchase products include a fee-free two-year fix at 2.88 per cent to 90 per cent loan-to-value (LTV) and a fee-free five-year fix at 3.04 per cent to 85 per cent LTV.

For those wishing to remortgage, on offer is a two-year fix at 1.55 per cent to 60 per cent LTV with £995 fee.

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There are also five-year fixes at 2.25 per cent to 60 per cent LTV and 3.32 per cent to 90 per cent LTV, with fees of £1,995 and £995 respectively.

Free valuations are offered on all purchase and remortgage two and five-year fixed rate products.

Kris Brewster, Skipton’s head of products, said: “Our mortgage products continue to have an emphasis on offering wide choice and good value, along with our commitment to doing everything to help borrowers.”

Mike Richards, director at Mortgage Concepts Associates, said at the moment lenders will have seen the market is get a little quieter since the Budget, while buyers are waiting to see what happens with the EU referendum next month.

“That said, rate cuts like these from smaller lenders, where they have a limited distribution model, are good news and will bring them into line with larger lenders and will increase market share at the same time.”

peter.walker@ft.com