Skipton Building Society is one of the first lenders to be launching a revised range of fixed rate mortgages this year, now offering rates lowered by up to 0.45% with free overpayments of up to 10% per year.
The latest purchase products available from Skipton now includes a 2 year fix at 1.55% to 60% loan to value (LTV) which comes with a £995 fee, along with a no fee 5 year fix at 3.35% to 90% LTV for remortgages. Other remortgage products include a 2 year fix at 2.54% with a 90% LTV and a £995 fee.
Skipton has also announced the addition of Base Rate tracker LTVs ranging from 60% to 90% LTV. Highlights of the range include a 2 year fixed rate at 1.49% to 60% LTV with a £995 fee.
By offering lower rates across a range of short and longer term fixed mortgages, as well as Base Rate tracker products, Skipton’s latest offers emphasise the wide choice and better value that lenders are striving to achieve.
They are not the only lender reaching out to first time buyers, however, as Nationwide has also been reducing rates for those with smaller deposits, looking to competitive mortgage deals along with payment security for a range of terms.
Nationwide revealed that it will be cutting rates on its 95% LTV fixed rate mortgages by up to 40 basis points. Rates for the lenders 2 year fixes will also be cut by 35 basis points, now offering a 3.89% product with a £999 fee and a 4.29% product with no fee.
3 year 95% LTV fixed rates have been reduced by 40 basis points to 4.39% with a £999 fee or 4.69% with no fee. The lender’s 5 year fixed rates have also seen reductions of 30 basis points to 4.69% with a £999 fee and 4.89% with no fee.