Skipton Building Society has reduced its variable mortgage interest rate by 0.25 per cent to 8.55 per cent and has also launched two new mortgages.
The Base Rate Tracker mortgage is guaranteed to follow the Bank of England's base rate, with a fixed differential of 0.75 per above. This means it is currently at 8 per cent.
The Cashflow mortgage offers a two per cent discount for the first year and one per cent cashback for a further four years.
The redemption penalty is 2.5 per cent of the mortgage for the first four years.