Skipton Building Society has announced sweeping cuts to its residential mortgage range, reducing rates on 114 fixed rate products in a move designed to benefit both new and existing borrowers.

The changes, which take effect from 9am on Wednesday 9 July, affect Skipton’s entire fixed rate residential portfolio, encompassing purchase and remortgage products alike.

The lender is withdrawing its first time buyer cashback range as part of the refresh, but the broader reductions will provide more competitive options for homebuyers and remortgagers at a range of loan-to-value tiers.

The biggest rate cut among the 114 revised products is 0.27%. Examples include a 2-year fixed deal at 95% loan-to-value with a £495 fee, which has been reduced from 5.26% to 4.99%.

A 5-year fixed product at 85% LTV with no fee and £500 cashback is now priced at 4.60%, down from 4.87%.

Meanwhile, the equivalent 5-year product with a £1,295 fee now sits at 4.43%, also down by 0.27%.

Other notable reductions include a 2-year fixed at 90% LTV with no fee, now at 4.87% – down from 5.07%, a 0.20% cut.

The mutual, which forms part of the wider Skipton Group, said the decision underlines its commitment to offering competitive rates amid a challenging environment for borrowers navigating high living costs and uncertain interest rate forecasts.