The society’s standard three-year fix, available up to 75% loan to value, now costs 3.38%, down from 3.68%. There is an application fee of £195 and a completion fee of £800.

Skipton also offers a three-year fixed rate up to 75% loan to value with lower fees. This is now priced at 3.68%, down from 3.88%, and has just one application fee of £195.

After the first three years, the products revert to Bank Base Rate plus 4.45%.

Early Repayment Charges apply for the first five years of the mortgage and are equal to 5% of the capital repaid plus interest to the end of the month in year one, 4% in year two, 3% in year 3%, 2% in year four and 1% in year five.

The new deals can be accessed via the Skipton Direct contact centre and branches, and also through mortgage intermediaries.

Skipton’s Head of Products, Kris Brewster, said:

“There has been some further downward movement in swap rates over recent weeks and so we’ve seized the opportunity to re-price some of our 3-year fixes to make them even more competitive. We’re constantly monitoring market conditions to ensure our products remain among the most competitive available.

“As a mutual, Skipton is committed to bringing competition and choice to the mortgage market, by offering consistently good value mortgages – and loans which meet people’s evolving needs in current market conditions.”