Skipton BS cuts rates on 2,3 and five-year fixed rate mortgages

The Skipton Building Society has announced cuts to the rates on a range of its two, three and five-year fixed rate mortgages.

Rates are to be reduced by up to 0.20 per cent from today (Tuesday 14th August).

The range includes fixed rate deals available to first-time buyers and homeowners who have 40 per cent or more equity in their homes. Rate cuts of between 0.1 and 0.2 per cent on many of the mortgages in Skipton’s range.

All mortgages come with an application fee of £195 and a completion fee of £800. Overpayments of up to ten per cent are able to be made on all the mortgages without penalty.

Kris Brewster, Skipton's Head of Products, said: "Just over a month ago, we launched a fee-free range of remortgage products, to sit alongside the purchase-only versions listed above. These have proved very popular.

"However, we spotted an opportunity to further improve our offering on the purchase-only products, by reducing their interest rates in reflection of the fact they do include up-front fees.

"This is another active demonstration of our ongoing commitment to continually reviewing our product offering against the marketplace, and making any changes necessary to ensure it remains good value for money."