Skipton Building Society has cut interest rates by up to 0.56 percentage points on its residential two-year fixed rate mortgage range.

Rates are being reduced on all core residential two-year fixes from 50% to 85% LTV on a total of 36 purchase and remortgage products.

The mutual’s revised range for purchasers includes a fee free two-year fixed rate to 60% LTV at 1.95% (was 2.34%) and a fee free two-year fixed rate to 80% LTV at 2.59% (was 2.99%).

For those looking to remortgage, the fee free range includes a two-year fixed rate to 50% LTV at 2.01% (was 2.18%), a two-year fixed rate to 70% LTV at 2.24% (was 2.39%) and a 2-year fixed rate to 75% LTV at 2.29% (was 2.85%).

Purchase products include a two-year fixed rate to 85% LTV at 2.64% (was 2.98%) with a fee of £1,995, and remortgage products include a two-year fixed rate to 60% LTV at 1.85% (was 2.04%) with a fee of £995.

Kris Brewster, the Skipton’s head of products, said: “We are delighted to offer some of the most competitive two year fixed rate mortgage deals around. Lowering interest rates across 36 products means that we can offer our existing and new customers great value products over what is our most popular fixed term, two years.

“We continue to strive to offer our customers best value by 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.”