Skipton Building Society is cutting interest rates on a range of mortgages by up to 0.2%, making homeownership a little more affordable. This comes hot on the heels of the lender launching a new range of mortgages specifically designed for first-time buyers on Monday.

From tomorrow, you could bag a cheaper deal:

• The biggest saving is on Skipton’s two-year base rate tracker mortgage at 75% loan-to-value (LTV) with a £995 fee. This rate will plummet by 0.2% from 5.85% to 5.65%.
• Looking for a competitive fixed rate? Skipton’s two-year fixed rate mortgage at 60% LTV with a £495 fee will fall by 0.12% from 4.87% to 4.75%. The lender says this is its most competitive deal.

Other rate reductions include:

• Two-year fixed rate at 60% LTV with no fee down to 4.88%
• Two-year fixed rate 75% LTV with no fee down to 4.96%
• Two-year fixed rate 75% LTV with £495 fee down to 4.85%
• Two-year fixed rate 75% LTV with £995 fee down to 4.8%
• Two-year base rate tracker at 60% LTV with £995 fee down to 5.58%

Charlotte Harrison, Skipton’s chief executive of home financing, says: “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 mortgage rates too.

“In doing so we’re helping to take another step forward in supporting home affordability.”