Skipton Building Society has reduced rates across its residential fixed-rate mortgage range and launched a new three-year fixed-rate product for existing customers borrowing at up to 95% loan-to-value.
The lender announced that, from 9am on 23 June, rates across its entire residential fixed-rate range will be reduced.
According to Skipton, the average rate reduction is 0.18%, with the largest cut amounting to 0.40%.
The mutual has also introduced a new three-year fixed-rate residential mortgage at 95% LTV for existing customers.
Jen Lloyd (pictured), head of mortgage products and propositions at Skipton Building Society, said: “The mortgage market has continued to show resilience, and we’re pleased to introduce further rate reductions following cuts earlier this month.
“With interest rates holding and a degree of improving certainty in the Middle East, this is providing some welcome respite for borrowers.
“While global conditions remain changeable and affordability is still stretched for many, these latest reductions represent a positive step forward for both existing homeowners and those looking to get onto or move up the property ladder.
“We will continue to monitor the environment closely and respond responsibly, maintaining a cautious but supportive approach to help our customers navigate the market.”
