Skipton Building Society, part of the Skipton Group, has announced a significant update to its mortgage product range, reducing rates across 114 products.
The widespread rate reductions will come into effect from 9.00am tomorrow, Wednesday 9th July.
The changes apply across the entire fixed-rate residential mortgage range and have been designed to benefit both new customers and existing borrowers.
With homebuyers and remortgagers facing continued affordability pressures, the move provides borrowers with an opportunity to secure lower interest rates.
A total of 114 fixed-rate residential purchase products will see their rates reduced, with some falling by as much as 0.27%.
These reductions span a variety of loan-to-value (LTV) options and fee structures, offering greater flexibility to a range of borrowers.
Among the most notable changes is the 2-year fixed purchase mortgage at 95% LTV with a £495 fee, which will now be available at a rate of 4.99%, down from 5.26%.
Similarly, the 5-year fixed purchase mortgage at 85% LTV with no fee and a £500 cashback incentive will drop from 4.87% to 4.60%.
Another highlight is the 5-year fixed purchase mortgage at 85% LTV with a £1,295 fee, which will now be offered at 4.43%, reduced from 4.70%.
Also worth noting is the 2-year fixed purchase mortgage at 90% LTV with no fee, which sees its rate reduced from 5.07% to 4.87%.
As part of the update, Skipton will also be withdrawing its First Time Buyer Cashback specific range, indicating a strategic shift in its product offerings.
