Pricing across its two- and five-year fixed residential products will drop by as much as 0.21% from 13 April.
Its two-year fixed residential purchase rates start from 4.8% at 60% loan to value (LTV) with a £1,495 fee, going up to 5.69% at 95% LTV with no fee. Corresponding five-year fixed rates range from 4.74% to 5.57%.
Its three-year fixed rates start at 4.84% for a purchase or remortgage deal with a £795 fee at 60% LTV, up to 5.61% for a purchase-only deal at 95% LTV with no fee.
Jen Lloyd, head of mortgage products and propositions at Skipton Building Society, said: “Falling rates are clearly a positive development for many homeowners and prospective buyers. Recent easing in swap rates has allowed us to reflect that in our mortgage pricing, and we’re pleased to be able pass on these reductions today.
“However, a degree of cautious optimism is still needed. Market conditions remain highly volatile and it’s too early to say whether this marks a sustained shift given ongoing global uncertainties, but we’ll continue to monitor developments closely and respond where we can.”
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Leek BS lowers rates
Leek Building Society has announced mortgage rate reductions, effective from 13 April.
Changes will apply to residential, shared ownership and limited company buy-to-let (BTL) options.
Its standard residential two-year fix at 95% LTV is now priced at 5.64% and the five-year fixed rate at 5.36%.
Its two-year fixed shared ownership mortgage has a rate of 5.59% and the five-year fixed rate has a rate of 5.33%.
Its two-year fixed holiday let mortgage is priced at 5.46%, and the five-year fix at 5.35%, while the two-year fixed fee-free limited company BTL deal has a rate of 5.73% and the five-year fix has a rate of 5.41%.
Leek Building Society said that repricing its range now would provide stability and underlined its purpose as a “force for good”. It noted that it maintained a steady presence through the market uncertainty, supported by its “human-led approach to underwriting”.
Nikki Warren-Dean, head of intermediaries at Leek Building Society, said: “While some market participants have pulled back recently, our priority is to provide consistent, reliable service to our intermediary partners. These price reductions are about ensuring brokers have the tools to deliver the best outcomes for their clients in an ever-changing landscape.
“We remain a steady presence in the market, backed by our human-led approach to underwriting.”
