Skipton Building Society is cutting mortgages rates on Wednesday 1 May.

The reductions will affect a number of the mutual’s fixed and tracker rate products, including selected residential two-year fixes and its Track Record products.

The society will also be reintroducing higher loan to value (LTV) remortgage options, including residential 85% and 90% LTV fixed rate remortgage products.

The changes are as follows:

• Rate reductions to selected two-year fixed residential products
• Rate reduction to the Track Record product
• Reintroduction of fee products to its fixed purchase range
• Reintroduction of 85% and 90% LTV products to its fixed residential remortgage range
• Rate reduction of the Track Record mortgage from 5.65% to 5.55%.