Skipton cuts residential mortgage rates

Skipton Building Society will reduce rates to its residential mortgage range from 28 October.

Highlights from the amended products include the 85% 2-year fix at 2.85%, and the 60% loan-to-value (LTV) 5-year fix at 1.45%. Both deals include a £995 fee.

In addition, the 60% LTV 5-year fix is now set at 1.77%, and the 70% LTV 2-year fix is at 2.14%. Both offerings include no fees.

The changing residential mortgage market

The products are available through the society’s Skipton Direct customer service team, branches and all intermediaries.

Alex Beavis, head of mortgages at Skipton, said: “We are delighted to offer a refreshed residential purchase mortgage range for purchase and remortgage with interest rate reductions across the board.

“In today’s ever-changing market, it is important to Skipton that we provide all customers, new and existing, the opportunity to ensure their money and mortgages are in a good place, bringing peace of mind to customers.

“The housing market continues to become increasingly busy and because of that we urge potential buyers to make applications as soon as possible to take advantage of the current temporary changes in stamp duty.

“We are currently averaging just six days from application to offer, based on an average rolling 30-day figure, and answering calls and webchats in under two minutes.”