The lender has reduced rates across its range by up to 0.21%.

However, industry experts believe mortgage rates may remain stubbornly high.

Rates at 85% LTV and above will see reductions up to 25 bps.

Residential fixed rates now start from 5.54%.

The Society has cut residential and buy-to-let rates by up to 0.25%.

The lender has also increased selected rates by up to 0.19%.

All rates up to and including 80% LTV have been reduced by up to 20bps.

The biggest rate reduction is on Pepper36 Light.

Rate cuts impact the lender's full range including two, three and five year fixed rates.

Rates have reduced by up to 0.32% across Skipton's entire fixed rate range.