Skipton Building Society is launching a new range of two and five-year fixed rate residential mortgages on 5 January.

Rates are being lowered by up to 0.45 percentage points.

The Society is also adding a new range of base rate trackers to its portfolio with LTVs ranging from 60% to 90%.

Free valuations are offered on all new two and five-year fixed and base rate tracker remortgage products.

Purchase products include a two-year fix at 1.55% to 60% LTV with £995 fee, while for those wishing to remortgage, products include a 2 year fix at 2.54% to 90% LTV with £995 fee and a fee-free five-year fix at 3.53% to 90% LTV.

The base rate tracker range includes a two-year at 1.49% to 60% LTV with £995 fee.

Kris Brewster (pictured), the Skipton’s head of products, said: “We’re pleased to be able to lower rates across a range of short-term and longer-term fixed mortgages as well as introducing our new base rate tracker products. We continue to offer fee and rate options to suit a number of different borrower requirements.

“Our mortgage products continue to have an emphasis on offering wide choice and good value, along with our commitment to doing everything to help borrowers.”

Criteria applicable to all of the above products is as follows:

• Early repayment charges of 2/1% until 30/11/17 (two-year fixes), 5/5/4/3/2% until 30/11/20 (five-year fixes) and 0.5% for two years on all base rate trackers, 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
• Free valuations on all new two and five-year purchase products.

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