Skipton launches new and reduced residential and buy-to-let rates

Skipton Building Society has announced a series of rate cuts and product launches across its residential mortgage range.

The changes, available from tomorrow, include rate reductions across two fixed residential products, alongside the launch of new two and five-year fixes and new two-year fixed buy-to-let products.

Overall, residential rates have fallen by an average of 0.07%, with the largest cut being 0.27%.

For existing customers only, the new residential products have fee options of £1,495, £995 or £0, with the new two-year buy-to-let range featuring fees of £995 or £0.

Jen Lloyd, head of mortgage products and propositions at Skipton, said: “Following the reductions we made earlier this month; we’re pleased to be able to cut rates further. While falling rates offer encouraging signs for the market, a degree of caution remains important. Conditions continue to be volatile amid ongoing global conflicts and broader economic uncertainty, and it’s too early to say whether this marks a sustained downward trend.

“Against this backdrop, recent easing in swap rates has enabled us to pass on additional savings through our mortgage pricing. This is a welcome development for existing homeowners and prospective buyers alike, providing some much needed relief and a potential boost for homebuyers at a time when affordability remains under pressure. We’ll continue to monitor developments closely and respond responsibly where we can.”