The Skipton Building Society has reduced interest rates a number of its current residential three and five-year fixed rate mortgages.

In addition, all five-year fixed products will have a free standard valuation on purchases.

Interest rates are being lowered across the range, and there are two new three-year fixed products offering 4.36% and 4.75% at 90%, dependant on fees. There is also a fee-free three-year fix at 2.77% to 60% LTV.

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

Kris Brewster, the Skipton’s head of products, said: “We are continually looking to offer competitive rates on our mortgage range and by reducing the rates on our three and five-year fixed products, with a variety of fee options, we believe they will be attractive to homebuyers and remortgage customers wanting the security of fixing their mortgage payments over a longer period of time. These are products which 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.”

Three-year residential fixes

• 3 Year Fix at 2.77% (was 2.88%) to 60% LTV with no application or completion fee;
• 3 Year Fix at 2.78% (was 2.89%) to 75% LTV with a £195 application fee and an £800 completion fee;
• 3 Year Fix at 3.07% (was 3.15%) to 75% LTV with no application or completion fee;
• 3 Year Fix at 3.53% (was 3.89%) to 85% LTV with a £195 application fee and a £800 completion fee;
• 3 Year Fix at 3.61% (was 3.99%) to 85% with no application or completion fee;
• 3 Year Fix at 4.36% (no current equivalent) to 90% LTV with a £195 application fee and an £1800 completion fee.
• 3 Year Fix at 4.52% (was 4.69%) to 90% LTV with a £195 application fee and an £800 completion fee.
• 3 Year Fix at 4.75% (no current equivalent) to 90% with no application or completion fee;

Five-year residential fixes

• 5 Year Fix at 3.10% (was 3.30%) to 60% LTV with a £195 application fee and an £800 completion fee;
• 5 Year Fix at 3.22% (was 3.49%) to 60% LTV with no application or completion fee;
• 5 Year Fix at 3.29% (was 3.55%) to 75% LTV with a £195 application fee and an £800 completion fee;
• 5 Year Fix at 3.48% (was 3.70%) to 75% LTV with no application or completion fee;
• 5 Year Fix at 4.05% (was 4.19%) to 85% LTV with a £195 application fee and an £800 completion fee;
• 5 Year Fix at 4.25% (was 4.34%) to 85% LTV with no application or completion fee;
• 5 Year Fix at 4.85% (was 4.99%) to 90% LTV with a £195 application fee and an £800 completion fee.
• 5 Year Fix at 4.98% (was 5.19%) to 90% LTV with no application or completion fee.

Criteria applicable to all of the above products

• Early repayment charges of 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.