Skipton to lower its mortgage variable rate

From Wednesday 1 October Skipton will lower its Mortgage Variable Rate (MVR) from 5.49% to 4.99% for residential and from 5.69% to 5.19% for buy-to-let.

The Society continually reviews the position of its mortgage rates, relative to other banks and building societies, and in the context of the wider market. Having recently assessed its position the Society is pleased to confirm a reduction in its MVR from 1 October.

Its current discount product range has been withdrawn from sale today and will be replaced shortly.

Kris Brewster, the Society’s Head of Products, said: “This is great news for our customers with rates linked to MVR or whose deals still revert to MVR. We continually review our competitive position, and in the context of the wider market, and have taken the decision to reduce our MVR.

“In doing this we’re able to keep offering a wide variety of affordable competitive products to suit all mortgage needs as we continue to punch above our weight in getting people the keys to their homes.”

The Society will write to all customers who will benefit from this change. 

For more information, visit skipton.co.uk.