Mortgage bulletin for week commencing 22 December 

It seems the Boxing Day Sales have started early with yet more reductions in mortgage rates.

Skipton Building Society has reduced rates by up to 0.62% on its current residential three-year and five-year fixed-rate mortgages, with fee-free options on purchase products including a three-year fixed-rate at 3.32% to 85% loan-to-value (LTV) and a five-year fixed rate at 3.76% to 85% LTV. Slightly lower rates are available on equivalent products at 3.02% and 3.44%, respectively, but with a £195 application fee and an £1,800 completion fee.

Fee-free options on remortgages include a three-year fixed-rate at 2.52% on loans up to 60% LTV and a five-year fixed-rate mortgage at 2.87% to 60% LTV. Remortgage customers receive free standard legals and valuations, and the new products are available through the Skipton Direct customer service centre, branches and all intermediaries. 

Santander has launched its lowest-ever ten-year fixed-rate mortgage. The product is available at a very competitive rate of 3.44% up to 60% LTV, with a £995 fee. In addition, Santander has made further reductions to selected three-year and five-year fixed-rate deals, available in branches, over the telephone and via intermediaries. New rates include a three-year fixed-rate mortgage at 2.54% (reduced by 0.15%), available up to 70% LTV for homebuyers and  remortgagers with a £995 fee, and a five-year fixed-rate product at 4.45% (reduced by 0.54%), available up to 90% LTV for homebuyers, and with no booking fee. Remortgagers can take advantage of Santander’s lowest-ever two-year remortgage fixed-rate, at 1.84% available up to 60% LTV with a £995 booking fee.

Nationwide is offering existing Nationwide Current Account customers a four-year fixed rate of 2.29% on loans up to 60% LTV, with a fee of £999, reduced to £499 for first-time buyers. The deal includes free standard legal fees if you choose Nationwide's licensed conveyancer or £250 cashback within one month of completion.

Norwich and Peterborough Building Society is offering a two-year tracker mortgage at 1.29% on loans up to 65% LTV. The deal has a reservation fee of £845, while Barclays is offering the same 1.29% rate, though only to 60% LTV, on its two-year tracker mortgage from the Woolwich Building Society, with an arrangement fee of £999.

Tesco Bank has a rate of 1.69% for its two-year fixed rate at 60% LTV, and 2.79% for a five-year fixed rate at up to 75% LTV. A non-refundable booking fee £195 and product fee of £800 are charged on both deals, and Early Repayment Charges (ERCs) will apply during the initial fixed-rate period. Tesco is also offering free standard legal fees and first standard valuation fee to remortgagers.

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