This include a reduction on its ‘Track record mortgage’ a 100% mortgage aimed at helping ‘trapped’ renters onto the housing ladder. This has been reduced by 15bps and will now cost 5.29% – its lowest rate since its launch in May 2023.

The biggest cut is on its first-time buyer exclusive residential five-year fix, at 90% LTV. This deal, which comes with a £1,500 cash back will now be priced at 4.89% — a cut of 36bps.

The lowest rate in its range will now be its residential purchase five-year fix (at 60% LTV). This will now be priced at 3.99%, a cut of 16bps. This mortgage comes with a £2,995 fee.

Skipton has also reduced the rates on some of its most popular residential deals. This includes its fee-free two-year fix for purchases, at 90% LTV. This is now priced at 5.34% — a reduction of 12bps.

These various rate cuts will all be effective from Monday 30th September.

Skipton BS head of mortgage products and proposition Jennifer Lloyd says: “We’re pleased to announce 75 rate reductions across our mortgage range at various LTVs and product types.”