The Skipton Building Society has unveiled its lowest ever fixed mortgage rate.
Rates have been cut on all core residential two-year fixes from 50% to 90% LTV on a total of 26 purchase and remortgage products.
Rates on the new residential range have been reduced by up to 0.69 percentage points.
The revised range for purchasers includes Skipton’s lowest ever fixed rate at 1.36% (previously 1.59%) to 50% LTV with £995 fee, and two anticipated ‘Best Buys’ – a fee free two-year fix at 1.93% (was 2.28%) to 75% LTV and a fee free two-year fix at 3.28% (was 3.82%) to 90% LTV.
The largest rate reduction is Skipton’s two-year fix at 3.09% (was 3.78%) to 90% LTV with £995 fee.
For those looking to remortgage, the range includes a fee free two-year fixed rate to 60% LTV at 1.95% (was 2.22%), and a two-year fixed rate to 85% LTV at 2.59% (was 2.99%) with £995 fee.
“This latest reduction in our fixed rates comes as Skipton continues to add value to its mortgage range,” said Kris Brewster (pictured), the Skipton’s head of products.
“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.”