Skipton cuts fixed rates

Skipton Building Society has lowered the rates on its range of fixed-rate mortgages, which now start at 5.49 per cent.

Steve Aldous, general manager at Skipton, said: "The market has seen an increasing rise in rates throughout the year, but we can now offer homeowners relief with our new range of lower competitive fixes."

Mr Aldous said that in spite of the Bank of England's base rate remaining unchanged at 5.75 per cent, Skipton was committed to lowering its rates on long-term fixed loans - a move that will be welcomed by people looking for remortgage deals.

"This means that borrowers coming to the end of a fix need not worry because they can choose from a variety of the best rates that we have had available for some time," he said.

"For instance, the maximum payment for a customer taking out our seven-year fixed-rate at 5.99 per cent on a £100,000 repayment mortgage over a 25-year term would be as little as £627.81 per month."

Skipton has also re-launched variations on its two, three, five, seven and ten-year fixed-rate deals.

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