Skipton Building Society is reducing rates across parts of its residential mortgage range from Monday 15 June.

The mutual said the changes would apply from 9am and include reductions across its 60% to 90% LTV residential fixed-rate range and residential base rate tracker products.

Rates have fallen by an average of 11bps, with the largest reduction at 22bps.

Jen Lloyd, head of mortgage products and propositions at Skipton, said: “The mortgage market has repeatedly shown its resilience, and falling rates are an encouraging sign.

“However, with global conflict and amid wider economic uncertainty, conditions remain volatile and a degree of caution is still needed.

“[The] cuts bring welcome relief for both existing homeowners and those looking to step onto or move up the property ladder. While affordability remains stretched, these reductions mark a positive step forward, and we’ll continue to monitor conditions closely and respond responsibly to support our customers as the market recovers.”