Highlights from Skipton Building Society’s rate cuts include:
• Two-year fix, no fee, 95 per cent LTV cut to 5.59 per cent.
• Five-year fix, no fee, 60 per cent LTV, now 4.39 per cent
• Two-year fix, £995 fee, 90 per cent LTV, cut to 5.09 per cent.
The Society has also made changes to some of its product terms.
For new two-year fixed rates, the early repayment charge structure has changed from 2 per cent/1 per cent to 2.5 per cent/1.25 per cent.
From 1 June, Skipton’s default Residential Mortgage Variable Rate (RMVR) will be 6.54 per cent. But for borrowers who take out a two-year fixed deal, who remain on the RMVR after their deal has expired, the default rate will be discounted down to 5.99 per cent for three years.
TSB
TSB has reintroduced its two-year fixed rate deals at 75 per cent loan to value (LTV) for remortgage borrowers.
Two rate options up to 75 per cent have been added back into the product suite. For a fee of £995 borrowers can access a rate of 4.69 per cent. A fee-free option is available at 5.09 per cent.
