The Skipton Building Society has reduced its two and five-year fixed rate residential mortgages with rates lowered by up to 0.38 basis points.

Rates have been cut by an average of 0.20 basis points across the range.

Purchase products include two-year fixes at 1.09% to 60% LTV, and 1.79% to 80% LTV, and a five-year fix at 1.89% to 60% LTV.

For those looking to remortgage, products include a five-year fix at 1.90%to 60% LTV.

All of the two and five-year fixed rate remortgage products offer free valuation and free standard legal fees.

In addition, all purchase applications for the two and five-year fixes come with a free valuation.

Kris Brewster, Skipton’s head of products, said:v“In reducing our mortgage rates on this range, we’re really showing our support to help get the country moving and enable more people to progress on the housing ladder, whatever rung on it they may be.

“Today’s news is great for borrowers, as our mortgage rates continue to fall and our range of products competitively sit in the national best buy tables. With rates reduced by up to 0.38%, there really are some great deals to be had for people looking to buy or remortgage, and some great choice to suit all needs.”