From 25 September, rates on fixed rate products for both new and existing customers will fall by an average of 0.15%.
The changes follow the launch earlier this week of Skipton Building Society’s enhanced Delayed Start Mortgage, which was previously available only to first-time buyers and is now also available to homemovers.
Jen Lloyd, head of mortgage products and propositions at Skipton Building Society, said: “We’re reducing rates across our range in response to recent market movements, helping more customers take the next step on their homeownership journey with confidence.
“Our expanded Delayed Start Mortgage now gives more homemovers up to three months before making their first mortgage payment, helping ease some of the financial pressure that can come with moving home.”
The mutual has also introduced new three-year fixed rate options to its LTI Booster range at 90% loan to value (LTV).
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Among the rate decreases, the two-year fixed rate mortgage at 95% LTV with no fee has been reduced to 5.72% from 5.84%.
Meanwhile, the five-year fixed rate mortgage at 95% LTV with a £995 fee has fallen to 5.49%, down from 5.76%.
Lloyd added: “While improved market conditions have created opportunities to lower pricing, the economic outlook remains uncertain. It’s important that lenders continue to balance supporting customers today with lending responsibly for the long term.”
