Skipton Building Society has reduced select mortgage rates, just after releasing a range of deals for first-time buyers.
The mutual has reduced the rate of its two-year base tracker deal at 75% loan to value (LTV) with a £995 fee. This now has a rate of 5.65%, down from 5.85%.
Skipton Building Society has also cut pricing on a two-year fixed deal at 60% LTV with a £495 fee, from 4.87% to 4.75%. This is currently the most competitive rate the mutual has to offer.
Following further reductions, Skipton Building Society has a fee-free two-year fix at 60% LTV, which is now priced at 4.88%. The equivalent product at 75% LTV has a rate of 4.96%.
Its two-year fixed rate product at 75% LTV with a £495 fee now has a rate of 4.85%, while the option with a £995 fee is priced at 4.8%.
Skipton Building Society’s two-year base rate tracker mortgage at 60% LTV with a £995 fee now has a rate of 5.58%.
Charlotte Harrison (pictured), CEO of home financing at Skipton Building Society, said: “Everyone should have somewhere to call home, but achieving that today is an insurmountable struggle for far too many.
“We know it’s all very well highlighting key housing issues, but this doesn’t help anyone if you don’t spend time exploring and investing in the solutions.”
“Which is why I’m pleased to announce that as well as launching a brand-new first-time buyer range this week, we are also making cuts to a variety of our mortgage rates too. In doing so, we’re helping to take another step forward in supporting home affordability.”
These changes come after the mutual launched products for first-time buyers to coincide with the first publication of its report on affordability, which found just 12.5% of people could afford to buy a home in their local area. The product range included options with £1,500 cashback.
Also to help potential homeowners, Skipton Building Society added a home deposit saver account with a 5.06% variable interest rate, which is open to all customers regardless of whether they are members of the mutual.
Shekina is the deputy editor at Mortgage Solutions and commercial editor at Mortgage Solutions and Specialist Lending Solutions. She has nearly eight years of experience in the B2B publishing market, having previously covered the hospitality, retail, pet, accounting and jewellery sectors.
Shekina has worked for Mortgage Solutions and Specialist Lending Solutions for almost five years. Here, she covers the market’s breaking news stories, engages with professionals in the sector, and oversees any commercially agreed content in partnership with mortgage-related companies.
This includes presenting webinars and hosting roundtable discussions on developing themes in the mortgage sector.
She is an NCTJ-trained journalist and was nominated for the Headline Money Awards Mortgage Journalist of the Year in 2021.
In her spare time, Shekina likes to read, travel, listen to music and socialise with friends.
She currently reports on current events in the mortgage market and liaises with financial clients to produce sponsored content.
Follow her on Twitter at @ShekinaMS
