Skipton said it will cut the rates from Thursday 24 July.
New deals
Key changes made by the lender include rate cuts across selected two-year residential fixed products as well as two-year residential base rate tracker mortgages.
The biggest reduction is on a two-year base rate tracker, available up to 75% of the property’s value with a £995 fee. The rate is now 5.65%, down 0.2 percentage points from 5.85%.
The most competitive new rate is a two-year fixed rate at 60% loan to value (LTV) with a £495 fee, which is now priced at 4.75%.
Other reduced products include:
- A two-year fixed rate up to 60% LTV with no fee, now 4.88%
- A two-year fixed rate up to 75% LTV with no fee, now 4.96%
- A two-year fixed rate up to 75% LTV with a £495 fee, now 4.85%
- A two-year fixed rate up to 75% LTV with a £995 fee, now 4.8%
- A two-year base rate tracker up to 60% LTV with a £995 fee, now 5.58%
Charlotte Harrison, CEO of home financing at Skipton Building Society, said: “Everyone should have somewhere to call home, but achieving that today is an insurmountable struggle for far too many.
“We know it’s all very well highlighting key housing issues, but this doesn’t help anyone if you don’t spend time exploring and investing in the solutions.
“Which is why I’m pleased to announce that as well as launching a brand-new first-time buyer range this week, we are also making cuts to a variety of our mortgage rates too. In doing so, we’re helping to take another step forward in supporting home affordability.”
