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Skipton announces rate cuts

ended 16. September 2024

Skipton has today announced rate reductions on selected 90% and 95% LTV Residential Fixed purchase products, its standard Track Record product as well as the introduction of Residential Fixed Rate products at 80% LTV. What are your thoughts on the rates and do we need more lenders to focus on cutting rates at higher LTVs to spur the market on?

3 responses from the Newspage community

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Editor
Darryl Dhoffer
Founder at The Mortgage Geezer
Skipton are the first lender out of the blocks this week, with reductions on their high loan-to-value residential products. Hopefully this will see more lenders focus on borrowers with smaller deposits, who are crucial to get the market moving.
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Gabriel McKeown
Head of Macroeconomics at Sad Rabbit - Substack Newsletter
As the interest rate rollercoaster picks up speed, a mad dash to rock-bottom rates continues with the latest rate cut by Skipton. This reduction focusing on higher LTV products, will throw a lifeline to many new homeowners who've been treading water in the sea of higher rates. With a critical BoE policy decision on Thursday, this trend of rate cuts should help to keep the housing market momentum rolling on towards the end of 2024 and beyond.
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Editor
Simon Bridgland
Director at Charwin Private Clients
Skipton releasing a smattering of reductions is a good sign of how this week might progress, following last weeks romp into the weekend from Santander. Skipton have allowed higher loan to value borrowers to gasp a breath of fresh air before taking the plunge as products of 90 & 95%, have been reduced by about 0.1%. This just goes to show that lenders are trying to make a difference, hacking down rates by a thousand cuts, rather than one fell swoop.