Skipton Building Society has cut rates by up to 37 basis points and MPowered has made reductions of up to 17bps today.

It comes amid repricing at many lenders this week, including NatWest, Perenna, HSBC, Barclays, TSB and TMW.

At Skipton, 24 different rates have been reduced.

Some of the biggest cuts include:

• A two-year fixed for remortgage at 85% LTV is down by 37 bps from 5.63% to 5.26% with a £495 fee.
• A two-year fixed for purchase at 85% LTV with a £1,495 fee, down by 34bps from 5.31% to 4.97%.

One of the lender’s most competitive rates is now a five-year fix at 95% LTV which has come down from 5.3% to 5.19%.

Also at 95% LTV, the lender has launched a two-year at 5.82% and a five-year fixed rate at 5.28% which both come with £500 cashback.

Meanwhile, At MPowered, following rate cuts of up to 17 basis points, a three-year fixed 60% LTV remortgage with £999 now starts from 4.25%, and a fee-free alternative from 4.44%.  

A 65% five-year remortgage £0 fee now starts from 4.35%.

MPowered chief executive Stuart Cheetham says: “We’ve cut rates yet again for the third time this month.

“But we’ve not just cut rates, we’ve cut rates where they matter. 

“We’re focused on providing brokers and their customers with value across the LTV range rather than on just headline-grabbing rates which is why we’ve delivered these cuts across the core 60-80% LTV segment on the most popular products in our range.” 

“With great pricing in 5% LTV segments, brokers can look to match their customer’s borrowing requirements more closely with the LTV risk to achieve a better outcome.”