Skipton launches its lowest ever two-year fixed rate
Skipton Building Society has launched its lowest ever two-year fixed rate for purchases at 1.36% for applications up to 50% loan-to-value (LTV), with a fee of £995.
The society has also added a fee-free two-year fix at 1.93% available for deals up to 75% LTV and a fee-free two-year fix at 3.28% available up to 90% LTV.
The biggest rate reduction is Skipton’s two-year fix at 3.09% reduced from 3.78% for applications up to 90% LTV with £995 fee.
For those wishing to remortgage, the range includes a fee free two-year fixed rate to 60% LTV at 1.95% and a two-year fixed rate to 85% LTV at 2.59% 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%.”
The building society said it has invested heavily in its mortgage call centre to improve its service to customers and has set up a programme to provide more support for brokers.