Skipton offers 2 and 5-year rates from 2.55pc

The 2-year deal is at 2.55% fixed until February 2015 and has an early repayment charge of 3/2% of capital repaid plus interest to the end of the month until 28/02/15.

The 5-year deal is at 3.35%, fixed until February 2018 and has an early repayment charge of 5/5/5/4/3% of capital repaid plus interest to the end of the month until 28/02/18.

Head of products Kris Brewster said: “We’re delighted to offer these market leading new deals to reward borrowers who have built up a substantial pot of equity.

“The majority of low LTV deals in the market are to 60% LTV but at Skipton we believe that we should also recognise people who have paid off even more of their mortgage and, in this instance, we are choosing to reward those that have hit the major milestone of 50% equity in their home.

“They add an extra dimension to the varied options we already offer to suit the needs of a wide range of borrowers, including deals at up to 90% LTV for people who don’t have quite such high deposits.”

Criteria applicable to both of the above products

• Application fee: £195, completion fee: £800;

• Available for purchases and remortgages;

• Free legals and valuations available for remortgages;

• Revert to Mortgage Variable Rate, currently set at 5.49%.