Skipton Building Society has announced that from 23 June, rate cuts will be made across its entire Residential Fixed range.

The lender confirmed an average rate reduction of 0.18%; and largest reduction of 0.40%.

Skipton is also introducing a three -year fixed residential product at 95% LTV for existing customers.

Commenting on the latest changes, Skipton head of mortgage products and propositions Jen Lloyd said: “The mortgage market has continued to show resilience, and we’re pleased to introduce further rate reductions following cuts earlier this month. With interest rates holding and a degree of improving certainty in the Middle East, this is providing some welcome respite for borrowers.”

“While global conditions remain changeable and affordability is still stretched for many, these latest reductions represent a positive step forward for both existing homeowners and those looking to get onto or move up the property ladder.”