Highlights include its fee-free two-year fix at 60% loan to value (LTV) for residential purchase, which has been cut by 13 basis points (bps) to 4.74%, while the five-year fixed counterpart has been reduced by 24bps to 4.6%.
With a £995 fee, the two-year fix has been reduced by 4bps to 4.49% and the five-year fix by 24bps to 4.5%, while the option with a £1,495 fee has been reduced by 4bps for the two-year fix to 4.44%, and by 24bps to 4.45% for the five-year fix.
Reductions have also been made to remortgages, shared equity, green, first-time buyer and buy-to-let (BTL) deals.
Skipton BS cuts residential mortgage rates
Skipton Building Society has reduced residential mortgage rates across the 60-90% LTV tiers, for both fixed rate and tracker mortgages.
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Changes will apply from 15 June, and rates have been cut by as much as 0.22%.
Jen Lloyd, head of mortgage products and propositions at Skipton Building Society, said: “The mortgage market has repeatedly shown its resilience, and falling rates are an encouraging sign. However, with global conflict and amid wider economic uncertainty, conditions remain volatile and a degree of caution is still needed.
“The cuts bring welcome relief for both existing homeowners and those looking to step onto or move up the property ladder. While affordability remains stretched, these reductions mark a positive step forward, and we’ll continue to monitor conditions closely and respond responsibly to support our customers as the market recovers.”
Coventry BS lowers pricing
Coventry Building Society has reduced residential and BTL mortgage rates by up to 20bps.
A two-year fix for first-time buyers with no fee and £500 cashback at 90% LTV is now priced at 5.15%, and a five-year fixed residential purchase at 75% LTV with a £999 fee currently has a rate of 4.6%.
Jonathan Stinton, head of intermediary relationships at Coventry Building Society, said: “Continuing rate reductions gives brokers more opportunities to re-engage clients who may have been holding off making a move.
“The market remains highly competitive and even relatively small pricing changes can help improve monthly costs or make certain options more attractive for borrowers.”
