Skipton has returned to the market with a suite of two-year residential mortgage products.
The building society says the range includes larger loan fixed-rate offers, no product fee options and rate cuts of up to 59 basis points across two-year residential deals that carry a £995 fee.
The move by the firm, owned by estate agent and property business Connells Group, comes after new Chancellor Jeremy Hunt earlier this month reversed the vast majority of tax cuts announced in September’s mini-budget, although the stamp duty cut for house purchases remains.
Last month’s tax statement led to more than a thousand products being pulled as lenders worked out how to reprice loans as the cost of debt for the government and companies lifted on international money markets, following former Chancellor Kwasi Kwarteng’s tax-cutting fiscal event.
Skipton head of products Charlotte Harrison says: “Following the reduction in our mortgage range at the end of last month, I’m pleased we’re able to continue expanding the range to support more new customers to the society alongside balancing the service we provide to existing customers.
“Equally, I’m happy we’ve been able to reduce a number of rates quite significantly, meaning customers have access to better deals.”
The new products that launched today are as follows:
- 2 year fixed – 60% LTV – rate of 6.07% – £0 fee
- 2 year fixed – 80% LTV – rate of 6.16% – £0 fee
- 2 year fixed – 95% LTV – rate of 6.43% – £495 fee
Products for which rates have been decreased include:
- 2 year fixed – 95% LTV – rate of 6.43% – £495 fee (Reduced from 6.61%)
- 2 year fixed – 90% LTV – rate of 5.99% – £995 fee (Reduced from 6.49%)
