Skipton cuts mortgage rates by up to 0.27%

Skipton Building Society has announced a series of rate reductions across its entire fixed rate mortgage range.

From 9am tomorrow, rates across Skipton's fixed rate mortgage range for new and existing customers will reduce by an average of 0.15%.

Highlights include a two-year fix at 95% LTV, down by 0.12% to 5.84% with no fee, and a five-year fix at 95% LTV which is down by 0.27% to 5.76% with a £995 fee.

The changes follow the launch earlier this week of Skipton's enhanced Delayed Start Mortgage, which now allows a wider range of home movers to delay their first mortgage repayment by up to three months after completing on a property. Previously available only to first-time buyers, the proposition has been extended to support more customers taking their next step on the housing ladder.

In addition, Skipton has introduced new three-year fixed rate products to its LTI Booster range at 90% LTV.

Jen Lloyd, head of mortgage products and propositions at Skipton Building Society, said: “We’re reducing rates across our range in response to recent market movements, helping more customers take the next step on their homeownership journey with confidence.

“While improved market conditions have created opportunities to lower pricing, the economic outlook remains uncertain. It’s important that lenders continue to balance supporting customers today with lending responsibly for the long term.

“We know affordability remains a challenge for many borrowers, which is why we're focused not only on pricing, but also on providing greater flexibility. Our expanded Delayed Start Mortgage now gives more home movers up to three months before making their first mortgage payment, helping ease some of the financial pressure that can come with moving home.

“We’ll continue to monitor market conditions closely and look for meaningful ways to support customers at every stage of their homeownership journey, making it easier for more people to buy, move and own a home with confidence.”