The Society said it continually reviews the position of its mortgage rates.
The mutual has also withdrawn its current discount product range from sale today and will be replaced shortly.
Kris Brewster, Skipton’s head of products, (pictured) said: “This is great news for our customers with rates linked to MVR or whose deals still revert to MVR. We continually review our competitive position, and in the context of the wider market, and have taken the decision to reduce our MVR.
“In doing this we’re able to keep offering a wide variety of affordable competitive products to suit all mortgage needs as we continue to punch above our weight in getting people the keys to their homes.”
The Society will write to all customers set to be affected by the change.
