Skipton Building Society is cutting rates on parts of its residential mortgage range and adding new fixed rate products for existing customers from Wednesday 22 April.

The lender said the changes, effective from 9am on 22 April, include reductions across two fixed residential products, alongside the launch of new two-year and five-year fixed residential options and new two-year fixed buy-to-let products.

Overall, rates have fallen by an average of 0.07%, with the largest reduction standing at 0.27%.

The new residential products for existing customers will be available with fee options of £0, £995 and £1495. The new two-year fixed buy-to-let products for existing customers will be available with fee options of £0 and £995.

Jen Lloyd, head of mortgage products and propositions at Skipton, said: “Following the reductions we made earlier this month; we’re pleased to be able to cut rates further.

“While falling rates offer encouraging signs for the market, a degree of caution remains important. Conditions continue to be volatile amid ongoing global conflicts and broader economic uncertainty, and it’s too early to say whether this marks a sustained downward trend.

“Against this backdrop, recent easing in swap rates has enabled us to pass on additional savings through our mortgage pricing. This is a welcome development for existing homeowners and prospective buyers alike, providing some much-needed relief and a potential boost for homebuyers at a time when affordability remains under pressure.

“We’ll continue to monitor developments closely and respond responsibly where we can.”