As a result, new two-year fixed rates are now available from 2.14% up to 70% loan-to-value (LTV) with no fee charged, and from 2.85% up to 85% LTV with a fee of £995.

Meanwhile five-year fixed rates have been trimmed so that they now start at 1.45% at 60% LTV with a £995 fee, or 1.77% for a fee-free deal.

Alex Beavis, head of mortgages at the mutual, said that the lender was delighted to unveil the range of reduced interest rates, noting that Skipton had to respond to “today’s every-changing market” in order to provide all customers with the best mortgage options.

He continued: “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’re 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. However, we expect this new range to be very popular and therefore encourage fully packaged purchase applications to be submitted as soon as possible to help us continue to offer this exceptional level of service.”