Skipton plays it fair for savers and borrowers alike

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 6.64% - 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 a larger increase of 0.30% for all children’s accounts. The average increase across all variable rate accounts – both open and closed issues – will be over 0.23%. Both rate changes will take effect over the first weekend in February.

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 while at the same time encouraging younger savers with an even better rate of return.”