Skipton cuts fixed rates and widens home mover range

Skipton Building Society is reducing rates across its fixed mortgage range by an average of 0.15%, alongside expanding its Delayed Start Mortgage and adding new higher-LTV products.

The pricing changes will take effect from 9.00am on Friday 25 September and will apply to fixed-rate mortgages for both new and existing customers.

Among the reductions, Skipton’s two-year fixed rate at 95% LTV with no fee will fall from 5.84% to 5.72%, while its five-year fixed rate at 95% LTV with a £995 fee will reduce from 5.76% to 5.49%.

The lender has also added three-year fixed-rate products at 90% LTV to its LTI Booster range.

DELAYED START EXTENDED TO HOME MOVERS

The rate changes follow an expansion of Skipton’s Delayed Start Mortgage, which allows borrowers to postpone their first mortgage repayment for up to three months after completion.

The option, which was previously restricted to first-time buyers, has now been widened to include more home movers.

Jen Lloyd (pictured), head of mortgage products and propositions at Skipton Building Society, said: “We’re reducing rates across our range in response to recent market movements, helping more customers take the next step on their homeownership journey with confidence.

“While improved market conditions have created opportunities to lower pricing, the economic outlook remains uncertain. It’s important that lenders continue to balance supporting customers today with lending responsibly for the long term.”

She added: “We know affordability remains a challenge for many borrowers, which is why we’re focused not only on pricing, but also on providing greater flexibility. Our expanded Delayed Start Mortgage now gives more home movers up to three months before making their first mortgage payment, helping ease some of the financial pressure that can come with moving home.

“We’ll continue to monitor market conditions closely and look for meaningful ways to support customers at every stage of their homeownership journey, making it easier for more people to buy, move and own a home with confidence.”