Skipton’s SVR remains lowest of top 10 building societies

Following the recent announcement of an increase in the Bank of England’s base rate, borrowers with Skipton Building Society will be pleased to find the Society’s new SVR – at 6.89% - remains lower than any of the UK’s top 10 building societies.

In addition, the vast majority of Skipton’s investors will see their interest rates increase by 0.25%, with the average increase across all variable rate accounts – both open and closed issues – to be over 0.23%. Both rate changes will take effect over the first weekend in June.

John Goodfellow, chief executive, commented, “As the Society with the lowest interest margin, we always make every effort to ensure that both investors and borrowers benefit from our competitive advantage. Our latest interest rate changes strike that balance, keeping our SVR the lowest of any top 10 building society.”