Skipton Building Society is cutting mortgage rates by up to 0.30 percentage points tomorrow when it launches a new residential fixed rate mortgage range.

The offering includes new two and five-year fixes with no fees and rate reductions on all three-year fixes and selected two-year fixes.

Skipton’s new range of purchase deals includes a two-year fix rate at 2.30% to 85% LTV with a £995 fee, a three-year fixed rate at 3.99% to 90% LTV with no fee, and a five-year rate at 4.39% to 90% LTV with no fee.

For those wishing to remortgage, the range includes a two-year rate at 1.99% to 60% LTV and a three-year rate at 2.38% to 60% LTV, both fee free.

Kris Brewster (pictured), the Skipton’s head of products, said: “These latest reductions in our fixed rates come 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 increased brokers’ residential procuration fees to 0.40%.

“We are also delighted that Skipton Intermediaries have been ranked third by brokers in the latest Mortgage Strategy quarterly survey and we believe that this is a great indication that our Real Life Lending proposition is resonating with our broker partners.

“Skipton’s clear message is that we want to offer new and existing customers the most competitive rates and the best levels of service to enable them to complete their purchase or remortgage in the quickest possible timescale.”