Skipton Building Society has cut rates on a selection of its residential and buy-to-let mortgage products.

Two-year residential fixes

• Two-year fix to 60% LTV at 2.39% (was 2.55%) – purchase and remortgage. Application fee: £195, completion fee: £800
• Two-year fix to 70% LTV at 2.58% (was 2.88%) – purchase and remortgage. Application fee: £195, completion fee: £800
• Two-year fix to 75% LTV at 2.78% (was 2.98%) – purchase and remortgage. Application fee: £195, completion fee: £800
• Two-year fix to 80% LTV at 3.28% (was 3.48%) – purchase and remortgage. Application fee: £195, completion fee: £800
• Two-year fix to 85% LTV at 3.68% (was 3.78%) – purchase and remortgage. Application fee: £195, completion fee: £800.

Three-year residential fixes

• Three-year fix to 90% LTV at 4.49% (was 4.78%) – purchase and remortgage. Application fee: £195, completion fee: £800.

Five-year residential fixes

• Five-year fix to 85% LTV at 4.08% (was 4.28%) – purchase and remortgage. Application fee: £195, completion fee: £800
• Five-year fixed rate to 85% LTV (no fee) at 4.48% (was 4.58%) – purchase and remortgage. No application or completion fee.
• Five-year fixed rate to 90% LTV at 4.88% (was 4.98%) – purchase and remortgage. Application fee: £195, completion fee: £800.

Two-year residential tracker

• Two-year tracker to 80% LTV at Bank Base Rate plus 2.68%, currently 3.18% (was 3.38%). Application fee: £195, completion fee: £800.

Buy-to-let products:

• Buy-to-let three-year fix to 70% LTV at 3.89% (was 3.99%) – purchase and remortgage. Application fee: £245, completion fee: £750
• Buy-to-let three-year fix to 75% LTV at 4.19% (was 4.29%) – purchase and remortgage. Application fee: £245, completion fee: £1,250
• Buy-to-let five-year fix to 75% LTV at 4.49% (was 4.59%) – purchase and remortgage. Application fee: £245, completion fee: £1,250.

Criteria applicable to all of the above products:

• Fixed until 31 May 2015 (two-year fixes), 31 May 2016 (three-year fixes) and 31 May 2018 (five-year fixes). Tracker term = two years from completion;
• Early repayment charges: 3/2% of capital repaid and, after the product end date, interest to the end of the month (two-year fixes/trackers); 4/3/2% (three-year fixes); 5/5/4/3/3 (five-year fixes);
• Overpayments of up to 10% per annum allowed without charge;
• Free standard legals and valuations available on all remortgage products.

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

The Skipton has also withdrawn its seven-year fixes “due to lack of demand”.

All other products remain unchanged.

Kris Brewster, Skipton’s head of products, said: “We’re constantly monitoring the marketplace and adjusting our products and interest rates to ensure they remain among the best value available.

“We’re delighted to be able to further reduce the rates on a wide selection of our mortgages, in line with our intention to increase our help for homeowners in the first half of the year.”