"We continually monitor market conditions and ensure we respond accordingly, which is why we're reducing rates across much of our range."
Skipton has announced a series of rate reductions across its mortgage product range, including its 100% LTV product.
From tomorrow, Skipton's 'Track Record' 100% mortgage, which aims to help trapped renters onto the property ladder, is reducing by 15bps to 6.29%.
The mortgage is available to tenants over the age of 21. The product is subject to affordability and credit score, plus evidence of a minimum of a 12-months good track record rental history.
Skipton is also ensuring the monthly mortgage payment for each applicant is not more than the average of their last six months rental costs that they have paid.
Elsewhere in the range, a five-year fixed rate at 95% LTV is reducing by 22bps to 6.02% with no fee.
In Skipton's buy-to-let range, reductions include a five-year fix at 60% LTV, down by 12bps to 5.62% with a £1,995 product fee.
Jennifer Lloyd, Skipton's senior mortgage product lead, commented: “We continually monitor market conditions and ensure we respond accordingly, which is why we're reducing rates across much of our range. This includes our existing customer only range - we're committed to giving members our best deals, which they can get via their broker or us directly."
