Skipton Building Society has announced a significant reduction in over 40 of its mortgage rates. Starting from 9:00 am today, Wednesday, 31st January, this change will encompass a wide range of Skipton’s mortgage products.

The rate reductions are sweeping across Skipton’s product line, impacting both existing and new customers in the residential sector. This means whether you’re looking to switch your mortgage to Skipton or are a loyal customer, there’s something in store for you.

Investors in the buy-to-let market and those utilising government schemes will also see a significant reduction in rates. This move could make property investment more accessible and appealing, offering a potential boost to the housing market.

Specific Rate Changes

Fixed New Business Range

One of the standout aspects of this rate reduction is a substantial decrease of up to 0.46% across Skipton’s fixed new business range. This could translate to considerable savings over the term of a mortgage, making the dream of homeownership more attainable for many.

New Tracker and Products for Existing Customers

Adding to its competitive edge, Skipton is reintroducing a 2-year 90% loan-to-value (LTV) Base Rate Tracker for new business. Moreover, they are rolling out two exclusive 2-year residential products, as well as two new buy-to-let products specifically for existing customers. These additions indicate Skipton’s commitment to rewarding loyalty and adapting to diverse customer needs.

A Standout Buy-to-Let Offer

Among the most attractive new offerings is a 5-year fixed buy-to-let 75% LTV product. Previously set at a rate of 4.95%, it’s now reduced to 4.49%, accompanied by a fee of £2995. This substantial reduction could be a game-changer for those looking to invest in rental properties, offering both stability and affordability.