Skipton Building Society will be reducing 99 rates across its mortgage product range effective from Thursday 11 January.

The rate reductions will take place across its residential existing and new customer range, as well as Track Record mortgage.

The reductions include decreases of up to 0.49% on its fixed product ranges for new business, decreases of up to 0.66% on existing customers products and a reduction of 0.13% on track record mortgage, which now has a rate of 5.52%.

The reductions include the following:

• 2-year fixed rate shared ownership 90% LTV currently at 6.28% reducing by 0.49% to 5.79%
• Track Record Mortgage currently at 5.65% reducing by 0.13% to 5.52%
• The most competitive rate in the range:
• 5-year fixed rate 90% LTV currently at 5.14% reducing by 0.15% to 4.99%

Jennifer Lloyd (pictured), head of mortgage products and propositions at Skipton, said: “I’m delighted to announce we are starting the new year by making 99 reductions to our mortgage product range as of tomorrow, from new and existing customer products to our Track Record Mortgage aimed at helping trapped renters access a deposit.

“It has been great to see mortgage rates being reduced across the market over the past few weeks and hopefully this is a sign of things to come throughout 2024, we keep all our products under constant review to make sure we’re offering the best deals for all customers especially those looking to take their first step onto the ladder, so it is great to be able to start off the new year with this reduction.”