The Skipton Building Society has reduced rates on selected two, three and five-year residential and buy-to-let fixed rate mortgages by up to 30bps.

The product range includes a new two-year fixed rate at 3.39% to 85% LTV with a £495 fee and a five-year fixed rate mortgage at 4.99% to 90% LTV with a £995 fee.

Key product changes:

Two-year residential fixes

• 2 Year Fix at 2.59% (was 2.69%) to 75% LTV with a £195 application fee and a £300 completion fee;
• 2 Year Fix at 3.39% (was 3.69%) to 85% LTV with a £195 application fee and a £300 completion fee.

Three-year residential fixes

• 3 Year Fix at 2.55% (was 2.65%) to 60% LTV with a £195 application fee and an £800 completion fee;
• 3 Year Fix at 2.89% (was 2.99%) to 75% LTV with a £195 application fee and an £800 completion fee;
• 3 Year Fix at 3.99% (was 4.09%) to 85% LTV with no application fee or completion fee;

Five-year residential fixes

• 5 Year Fix at 3.30% (was 3.45%) to 60% LTV with a £195 application fee and an £800 completion fee;
• 5 Year Fix at 3.70% (was 3.75%) to 75% LTV with no application or completion fee;
• 5 Year Fix at 4.19% (was 4.28%) to 85% LTV with a £195 application fee and an £800 completion fee;
• 5 Year Fix at 4.34% (was 4.53%) to 85% with no application or completion fee;
• 5 Year Fix at 4.99% (was 5.09%) to 90% LTV with a £195 application fee and an £800 completion fee;

Five-year buy-to-let fixes

• 5 Year Fix at 3.99% (was 4.09%) to 60% LTV with a £245 application fee and a £750 completion fee;
• 5 Year Fix at 4.69% (was 4.79%) to 75% LTV with a £245 application fee and a £750 completion fee;

Criteria applicable to all of the above products:

• Early repayment charges of 3/2% until 31/10/16 (two-year fixes); 4/3/2% until 31/10/17 (three-year fixes) and 5/5/5/4/3% until 31/10/19 (five-year fixes), of capital repaid then interest to the end of the month;
• Overpayments of up to 10% per annum allowed without penalty;
• Available for purchases and remortgages;
• Free standard legals and valuations for remortgages.

Kris Brewster, the Society’s head of products, said: “We’re pleased to announce rate reductions on a number of fixed rate mortgages across a range which offers fee and rate options to suit a number of different borrower requirements.

“The wide range of products we now have on offer at very competitive rates means that Skipton is well-placed to help anyone in the residential housing market.

“We’re continuing to lend strongly, in line with our commitment to doing everything to help borrowers, and the ongoing popularity of our products is a reflection of that.

“By lowering rates on a number of products over two,three and five years, up to 90% LTV, we are creating more value and choice for our customers who have worked hard to build equity or have a substantial deposit.”