Skipton Building Society has reduced the rates for its two and five-year fixed rate residential mortgages by up to 0.38 per cent.
The building society has reduced its rates by an average of 0.2 per cent across the range.
The products include two-year fixed rates at 1.09 per cent for 60 per cent loan-to-value and 1.79 per cent for 80 per cent loan-to-value (LTV) as well as a five-year fixed rate at 1.89 per cent at 60 per cent LTV.
For remortgaging, Skipton’s products include a five-year fixed rate at 1.9 per cent at 60 per cent LTV.
We’re really showing our support to help get the country moving.Kris BrewsterKris Brewster, Skipton’s head of products, said: “In reducing our mortgage rates on this range, we’re really showing our support to help get the country moving and enable more people to progress on the housing ladder, whatever rung on it they may be.
“Today’s news is great for borrowers, as our mortgage rates continue to fall and our range of products sit competitively in the national best buy tables.
“With rates reduced by up to 0.38 per cent, there really are some great deals to be had for people looking to buy or remortgage, and some great choice to suit all needs.”
All the two and five-year fixed rate remortgage products offer free valuation and free standard legal fees.
All purchase applications for the two and five-year fixes come with free valuation.
Toby Keate, a mortgage broker with London-based Taylor James Financial Services, said: “There are plenty of lenders offering cheaper rates than 1.79 per cent for an 80 per cent LTV mortgage but the 60 per cent LTV at 1.09 per cent is more attractive.
“That will be one of the lower fixed rates on the wider market but you would have to be wary of Skipton’s reputation for having a higher SVR than average.”
damian.fantato@ft.com
