Skipton Building Society is cutting rates across its two and five-year fixed term residential mortgage range from today.

The society’s new fixed-rate mortgage range includes new two and five-year fixes with no application fees and rate reductions across all its two-year fixes and selected five-year fixes.

Its two-year fixes are being cut by up to 0.5%.

Skipton is also offering free valuation for all two and five-year purchase products, and free valuation and legal costs for all remortgage products.

For purchases, Skipton’s new range includes a two-year fix rate at 1.49% to 60% LTV with a £995 completion fee and a fee-free five-year fixed rate at 3.77% to 90% LTV.

For remortgages, the range includes two-year fee-free rates at 2.59% to 85% LTV and 3.39% to 90%.

It also includes a two-year rate at 2.99% to 90% with a £995 completion fee.

Borrowers can also choose from a five-year fee-free rate charging 2.65% to 60% LTV or a five-year rate at 2.39% to 60% LTV, both with a £995 completion fee.

Head of products Kris Brewster said: “We have cut interest rates significantly across the range.

“Skipton’s clear message continues to be that we want to offer new and existing customers the most competitive rates and the best levels of service to enable them to complete their purchase or remortgage in the quickest possible timescale.”