Skipton’s new 2 year mortgage range includes its lowest ever fixed rate

Skipton Building Society is offering its lowest ever fixed mortgage rate when it launches a new 2 Year Fixed Rate range.

Rates on the new residential range have been reduced by up to 0.69%, offering market leading rates with a choice of fee and rate blends to maximise choice and flexibility. Skipton is anticipating that it will attract plenty of interest from homebuyers keen to fix their payments over its most popular term, two years.

Rates are being reduced on all core residential 2 year fixes from 50% to 90% LTV on a total of 26 purchase and remortgage products.

The Society’s revised range for purchasers includes Skipton’s lowest ever fixed rate at 1.36% (was 1.59%) to 50% LTV % with £995 fee, and two anticipated Best Buys – a fee free 2 year fix at 1.93% (was 2.28%) to 75% LTV and a fee free 2 year fix at 3.28% (was 3.82%) to 90% LTV.

The biggest rate reduction is Skipton’s 2 year fix at 3.09% (was 3.78%) to 90% LTV with £995 fee.

For those wishing to remortgage, the range includes a fee free 2-year fixed rate to 60% LTV at 1.95% (was 2.22%), and a 2-year fixed rate to 85% LTV at 2.59% (was 2.99%) with £995 fee.

Kris Brewster, the Society’s Head of Products, said: “This latest reduction in our fixed rates comes as Skipton continues to add value to its mortgage range. In the past few months we have removed all upfront application fees, seen large reductions on our rates, and we have recently announced an increase in brokers’ residential procuration fees to 0.40%.

“Skipton is entering 2015 with the clear message that we want to offer new and existing customers the most competitive rates and the best levels of service to enable them to complete their purchase or remortgage in the quickest possible timescale.

“We have seen major investment in our Skipton-based mortgage call centre, which enables us to offer a truly excellent customer service, and we have introduced our Real Life Lending programme to provide top-class 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.”