Skipton Building Society has reduced rates across its residential mortgage range and introduced new fixed-rate products, with changes effective from 9.00am tomorrow, 22nd April.
The lender confirmed average rate reductions of 0.07%, with the largest cut reaching 0.27%, alongside the launch of new 2- and 5-year fixed residential products and 2-year fixed buy-to-let (BTL) options.
Rate reductions apply across selected 2-year fixed residential products, while new residential deals are available with fee options of £0, £995 and £1,495 for existing customers.
The new buy-to-let products are also available to existing customers, with fee options of £0 and £995.
Jen Lloyd, head of mortgage products and propositions at Skipton Building Society, 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.”
She added: “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.”