Skipton Building Society has unveiled a new residential two-year fixed mortgage range with rates being reduced by up to 40bps.

The new range offers a choice of fee and rate blends.

Key product changes:

Two-year residential fixes 

• 2 Year Fix at 1.92% (new product) to 60% LTV with a £195 application fee and an £800 completion fee;
• 2 Year Fix at 2.49% (was 2.59%) to 60% LTV with no application or completion fee;
• 2 Year Fix at 2.34% (was 2.59%) to 75% LTV with a £195 application fee and a £300 completion fee;
• 2 Year Fix at 2.76% (was 2.95%) to 75% LTV with no application or completion fee;
• 2 Year Fix to 2.99% (was 3.39%) to 85% LTV with a £195 application fee and a £300 completion fee;
• 2 Year Fix at 3.23% (was 3.55%) to 85% LTV with no application or completion fee;
• 2 Year Fix to 3.89% (was 4.29%) to 90% LTV with a £195 application fee and an £800 completion fee;
• 2 Year Fix at 4.19% (new product) to 90% LTV with no application or completion fee;

Criteria applicable to all of the above products

• Early repayment charges of 3/2% until 31/10/16 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.

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

Kris Brewster, the Society’s head of products, said: “Customers are already enjoying peace of mind knowing that their mortgage payments will not increase for a fixed period, no matter what happens with the Bank of England Base Rate. We have now made these products even more attractive by introducing interest rate reductions on our two year fixed rate mortgages.

“As we strive to offer our customers best value products we’re constantly monitoring the marketplace and adjusting our products and interest rates to make sure they remain attractive. These latest reductions ensure they remain among the best value available as we continue to lend strongly in line with our commitment to helping people to achieve their homeownership aspirations.

“We’re pleased to offer this new product range, which offers fee and rate options to suit a number of different borrower requirements.

“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.”