Skipton Building Society will cut residential fixed-rate loans on over 100 products by up to 32 basis points, while TSB reduces fixes by 15bps.
Skipton will bring down rates across 124 of its mortgages for new business and existing customers on Monday (7 April), and launch a range of £250 cashback residential products.
One of its biggest reductions are two-year 90% loan-to-value remortgage fixes, with a £495 fee, at 5.06%, down 29bps.
It also offers two-year first-time buyer fixes, at 95% LTV, with £1,000 cashback, at 5.68%.
The lender will also introduce new cashback loans from 60% LTV to 90% LTV, with fee-free and fee-paying options, across two-year and five-year terms.
- Two-year fixes at 75% LTV, no product fee, £250 cashback, at 4.82%
- Two-year fixes at 85% LTV, a £495 product fee, £250 cashback, at 4.89%
However, the mutual will lift rates on seven deals across its five-year 95% LTV products by up to 13bps.
Skipton Building Society head of mortgage products Jen Lloyd says: “With rate reductions across 124 products and the introduction of new cashback options, we hope to give borrowers more choice when it comes to finding a deal that is right for them, whether a first-time buyer, moving home, or remortgaging.”
Meanwhile, TSB today (4 April) offers the following reductions:
- Two-year fixes for FTBs and home movers at 75% LTV to 80% LTV and 80% LTV to 85% LTV, with no fee, rates down by 10bps
- Two-year fixes for FTBs and home movers at 85 % LTV to 95%% LTV, rates down by 10bps
- Three-year fixes for FTBs and home movers 75% LTV to 85% LTV, rates down by up to 15bps
- Three-year fixes for FTBs and home movers 85 % LTV to 90% LTV, with a £495 fee, rates down by 15bps
- Five-year fixes for FTBs and home movers 90% LTV to 95% LTV, rates down by 10bps
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