The mutual said it would reduce some two-year fixed rate products by 0.25% while all three-year fixes have also been reduced.

The rate changes take place today, Thursday 4 June.

In addition, the society has launched a number of fee-free two- and five-year fixed rate mortgage products.

The new range includes a two-year fix rate at 2.30% available up to 85% LTV with a £995 fee, a three-year fixed rate at 3.99% to 90% LTV with no fee, and a fee-free five-year rate at 4.39% to 90% LTV.

The new remortgage range includes a two-year rate at 1.99% available up to 60% LTV and a three-year rate at 2.38% on offer up to 60% LTV. Both are fee-free.

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Kris Brewster, the Society’s Head of Products, said the changes would mean customers have access to a wider range of products than before.

“These latest reductions in our fixed rates come as Skipton continues to add value to its mortgage range. In the past few months we have removed all upfront application fees and seen large reductions on our rates.

“Skipton’s clear message is 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.”