The Skipton Building Society has launched a new range of two, three and five-year fixed rate additional borrowing products for residential and buy-to-let.

Rates have been cut by up to 0.50 percentage points.

The additional borrowing range for residential purposes includes two-year fixes at 3.50% to 75% LTV and 3.79% to 90% LTV, and five-year fixes at 4.15% to 75% LTV and 4.29% to 90% LTV. Newly-introduced three-year fixes are also available.

Buy-to-let owners can access additional borrowing at 3.64% to 75% LTV for a two-year fix, and 4.39% to 75% LTV for a five-year fix. A new three-year fix has also been introduced.

There are no completion fees on these products.

These refreshed products are available through the Society’s Skipton Direct customer service centre, branches and all intermediaries.

Kris Brewster (pictured), the Skipton’s head of products, said: “Whether home owners are looking to make improvements to their property or need the capital for other purposes, Skipton has a range of additional borrowing products available, with no application or completion fees to pay, providing you are an existing mortgage customer.

“We have made additional borrowing even attractive by lowering rates on our range of fixed rate products.”