Skipton Building Society is cutting interest rates on 75 of its residential mortgage products by up to 36 basis points.
This includes a reduction in the ‘Track record mortgage’, a 100% mortgage aimed at helping ‘stuck’ tenants onto the housing ladder. This has been reduced by 15 basis points and now costs 5.29% – the lowest rate since launch in May 2023.
The biggest cuts apply to the five-year exclusive residential fix for the first buyer, at 90% LTV. This deal, which comes with £1,500 cashback, will now be priced at 4.89% – a reduction of 36 basis points.
The lowest rate in its range will now be the five-year fixed rate on home purchases (at 60% LTV). This is now priced at 3.99%, a reduction of 16 basis points. A fee of € 2,995 applies for this mortgage.
Skipton has also reduced rates on some of its most popular residential deals. This includes the free two-year fix on purchases, at a 90% LTV. This is now priced at 5.34% – a reduction of 12 basis points.
These various interest rate cuts will all take effect from Monday, September 30.
Skipton BS head of mortgage products and proposition Jennifer Lloyd says: “We are pleased to announce 75 rate cuts across our mortgage range across LTVs and product types.”