Skipton BS announces widespread rate cuts

April 12, 2025 by Brendan O'Neill

Lenders

Skipton Building Society has said it is cutting the rates for more than 100 of its mortgage products, with all of its fixed rate loans set to be included in the reductions.

The total number of Skipton BS products that will have their rates cut is 124 and some are being reduced by as much as 0.32%. The building society’s fixed two-year loan with loan-to-value (LTV) of 90% is one of those that is seeing a particularly big cut. Skipton is reducing its rate by 29bps, which leaves it at 5.06%. The fee for the product will now be £495.

When it comes to the fixed two-year mortgage with LTV of 95%, the rate will now be 5.35%. This product also comes without a fee. The 85% LTV remortgage product has also had its rate cut. From now on, it will be set at 5.02% and there is no fee for this product either.

Rate reductions are not the only changes that Skipton BS is making. It is also bringing in additional cash-back mortgages. For residential borrowers, there will now be a fixed two-year 75% LTV product that comes with cash-back of £250.

Talking to Financial Reporter, Jen Lloyd from Skipton BS said that:

“With rate reductions across 124 products and the introduction of new cash-back options, we hope to give borrowers more choice when it comes to finding a deal that is right for them, whether a first-time buyer, moving home or remortgaging.”

Anyone with CeMAP training will welcome lower rates and an increase in product choice.