Skipton Building Society cuts fixed mortgage rates and expands product range
The changes will take effect from 9am on Friday 25th September.
Skipton Building Society is set to reduce rates across its fixed-rate mortgage range for new and existing customers by an average of 0.15%.
The changes will take effect from 9am on Friday 25th September.
The lender will reduce its fee-free 2-year fixed mortgage at 95% loan-to-value (LTV) from 5.84% to 5.72%.
Its 5-year fixed product at 95% LTV with a £995 fee will fall from 5.76% to 5.49%.
Skipton has also introduced new 3-year fixed-rate products to its LTI Booster range at 90% LTV.
The changes follow the expansion of its Delayed Start Mortgage earlier this week.
Previously available only to first-time buyers, the product now allows a wider range of home movers to delay their first mortgage repayment by up to three months after completion.
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.”
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