Welcome to our Variable Rate mortgage products

Variable Rate Mortgages

Enjoy the flexibility of a variable rate mortgage, with products available over a variety of terms to suit you and your individual needs.

YOUR HOME MAY BE REPOSSESSED IF YOU DO NOT KEEP UP WITH YOUR MORTGAGE REPAYMENTS. IF YOU HAVE A BUY TO LET MORTGAGE AND YOU FAIL TO KEEP UP WITH THE PAYMENTS ON YOUR MORTGAGE A 'RECEIVER OF RENT' MAY BE APPOINTED AND/OR YOUR RENTAL PROPERTY MAY BE REPOSSESSED.

Enjoy the flexibility of a variable rate mortgage

A variable rate mortgage has a rate which can move either up or down and may be linked to an external rate, such as the Bank of England Base Rate (BoEBR) or may be adjusted by the lender. This means that the interest rate on your mortgage will rise and fall in line with any changes to this rate. While your monthly payments may be lower than those on an equivalent fixed rate product, you should bear in mind that during the mortgage, your payments could go up as well as down.

Our Mortgage Guide and Skipton Variable Rates page offer a more detailed explanation of different types of variable rate mortgages, including the Base Rate Tracker, the Skipton Variable Rate, our Mortgage Variable Rate and Discount Variable Rates.

Variable rates are set for a number of years and usually run to a fixed end date, which will typically be 2, 3 or 5 years from the date you take out your mortgage. Below are our options for variable rate mortgages, which also feature a range of standard, low or no application and completion fees:

Initial rate payable 2.30% Variable (BoEBR + 1.80%) for 2 years from completion. The pay rate will not go below a floor of 2.05%.
Changing to 4.94%
our current BMVR, a variable rate, for the remainder of the term
The overall cost for comparison is 4.6% APRC
Early Repayment Charges None
Max LTV 60%
Mortgage fees Application:£0
Completion:£495
Find out more
The APRC is calculated based on the following: A repayment mortgage of £105,000 payable over 16 years 10 months on our variable tracker rate for 2 years at 1.80% above BoEBR and then on our current BMVR variable rate of 4.94%(variable) would require 24 monthly payments of £202.21 and 178 monthly payments of £434.31. The total amount payable would be £187,657.41 made up of the loan amount plus interest, Completion fee of £495, CHAPS fee of £6. The interest rates quoted include a 0.25% Direct Debit discount.
Initial rate payable 2.40% Variable (BoEBR + 1.90%) for 2 years from completion. The pay rate will not go below a floor of 2.15%.
Changing to 4.94%
our current BMVR, a variable rate, for the remainder of the term
The overall cost for comparison is 4.7% APRC
Early Repayment Charges None
Max LTV 75%
Mortgage fees Application:£0
Completion:£495
Find out more
The APRC is calculated based on the following: A repayment mortgage of £145,000 payable over 21 years 10 months on our variable tracker rate for 2 years at 1.90% above BoEBR and then on our current BMVR variable rate of 4.94%(variable) would require 24 monthly payments of £291.00 and 238 monthly payments of £598.97. The total amount payable would be £295,034.53 made up of the loan amount plus interest, Completion fee of £495, CHAPS fee of £6. The interest rates quoted include a 0.25% Direct Debit discount.
Initial rate payable 2.55%Variable (BoEBR + 2.05%) for 3 years from completion. The pay rate will not go below a floor of 2.55%.
Changing to 4.94%
our current BMVR a variable rate for the remainder of the term
The overall cost for comparison is 4.60% APRC
Early Repayment Charges 0.5% for 3 years
Max LTV 75%
Mortgage fees Application:£0
Completion:£0
Find out more
The APRC is calculated based on the following: A repayment mortgage of £160,000 payable over 21 years 10 months on our variable tracker rate for 3 years at 2.05% above BoEBR and then on our current BMVR variable rate of 4.94%(variable) would require 36 monthly payments of £340.01 and 226 monthly payments of £658.69. The total amount payable would be £321,102.39 made up of the loan amount plus interest, CHAPS fee of £6. The interest rates quoted include a 0.25% Direct Debit discount.
Initial rate payable 1.45% Variable (BoEBR + 0.95%). The pay rate will not go below a floor of 0.75%.
Changing to 4.74%
our current RMVR a variable rate for the remainder of the term
The overall cost for comparison is 4.0% APRC
Early Repayment Charges 0.5% for 2 years
Max LTV 60%
Mortgage fees Application:£0
Completion:£0
Find out more
The APRC is calculated based on the following: A repayment mortgage of £115,000 payable over 16 years 10 months on our variable tracker rate for 2 years at 0.95% above BoEBR and then on our current RMVR variable rate of 4.74%(variable) would require 24 monthly payments of £641.54 and 177 monthly payments of £803.36 followed by a final payment of £642.33. The total amount payable would be £158,234.01 made up of the loan amount plus interest, CHAPS fee of £6. The interest rates quoted include a 0.25% Direct Debit discount.
Initial rate payable 1.64% Variable (BoEBR + 1.14%). The pay rate will not go below a floor of 0.75%.
Changing to 4.74%
our current RMVR a variable rate for the remainder of the term
The overall cost for comparison is 4.2% APRC
Early Repayment Charges 0.5% for 2 years
Max LTV 75%
Mortgage fees Application:£0
Completion:£0
Find out more
The APRC is calculated based on the following: A repayment mortgage of £160,000 payable over 21 years 10 months on our variable tracker rate for 2 years at 1.14% above BoEBR and then on our current RMVR variable rate of 4.74%(variable) would require 24 monthly payments of £726.57 and 237 monthly payments of £956.38 followed by a final payment of £637.03. The total amount payable would be £244,736.77 made up of the loan amount plus interest, CHAPS fee of £6. The interest rates quoted include a 0.25% Direct Debit discount.
Initial rate payable 1.53% Variable (BoEBR + 1.03%). The pay rate will not go below a floor of 0.75%.
Changing to 4.74%
our current RMVR a variable rate for the remainder of the term
The overall cost for comparison is 4.3% APRC
Early Repayment Charges None
Max LTV 75%
Mortgage fees Application:£0
Completion:£995
Find out more
The APRC is calculated based on the following: A repayment mortgage of £160,000 payable over 21 years 10 months on our variable tracker rate for 2 years at 1.03% above BoEBR and then on our current RMVR variable rate of 4.74%(variable) would require 24 monthly payments of £722.57 and 237 monthly payments of £961.44 followed by a final payment of £637.92. The total amount payable would be £245,840.88 made up of the loan amount plus interest, Completion fee of £995, CHAPS fee of £6. The interest rates quoted include a 0.25% Direct Debit discount.
Initial rate payable 2.05% Variable (BoEBR + 1.55%). The pay rate will not go below a floor of 0.75%.
Changing to 4.74%
our current RMVR a variable rate for the remainder of the term
The overall cost for comparison is 4.4% APRC
Early Repayment Charges 0.5% for 2 years
Max LTV 85%
Mortgage fees Application:£0
Completion:£0
Find out more
The APRC is calculated based on the following: A repayment mortgage of £170,000 payable over 26 years 7 months on our variable tracker rate for 2 years at 1.55% above BoEBR and then on our current RMVR variable rate of 4.74%(variable) would require 24 monthly payments of £691.13 and 294 monthly payments of £919.26 followed by a final payment of £470.13. The total amount payable would be £287,319.69 made up of the loan amount plus interest, CHAPS fee of £6. The interest rates quoted include a 0.25% Direct Debit discount.
Initial rate payable 1.90% Variable (BoEBR + 1.40%). The pay rate will not go below a floor of 0.75%.
Changing to 4.74%
our current RMVR a variable rate for the remainder of the term
The overall cost for comparison is 4.4% APRC
Early Repayment Charges None
Max LTV 85%
Mortgage fees Application:£0
Completion:£995
Find out more
The APRC is calculated based on the following: A repayment mortgage of £170,000 payable over 26 years 7 months on our variable tracker rate for 2 years at 1.40% above BoEBR and then on our current RMVR variable rate of 4.74%(variable) would require 24 monthly payments of £682.65 and 294 monthly payments of £923.48 followed by a final payment of £473.74. The total amount payable would be £288,360.46 made up of the loan amount plus interest, Completion fee of £995, CHAPS fee of £6. The interest rates quoted include a 0.25% Direct Debit discount.
Initial rate payable 2.24% Variable (BoEBR + 1.74%). The pay rate will not go below a floor of 0.75%.
Changing to 4.74%
our current RMVR a variable rate for the remainder of the term
The overall cost for comparison is 4.5% APRC
Early Repayment Charges 0.5% for 2 years
Max LTV 90%
Mortgage fees Application:£0
Completion:£0
Find out more
The APRC is calculated based on the following: A repayment mortgage of £180,000 payable over 31 years 9 months on our variable tracker rate for 2 years at 1.74% above BoEBR and then on our current RMVR variable rate of 4.74%(variable) would require 24 monthly payments of £660.19 and 356 monthly payments of £898.95 followed by a final payment of £302.81. The total amount payable would be £336,173.57 made up of the loan amount plus interest, CHAPS fee of £6. The interest rates quoted include a 0.25% Direct Debit discount.
Initial rate payable 2.11% Variable (BoEBR + 1.61%). The pay rate will not go below a floor of 0.75%.
Changing to 4.74%
our current RMVR a variable rate for the remainder of the term
The overall cost for comparison is 4.5% APRC
Early Repayment Charges None
Max LTV 90%
Mortgage fees Application:£0
Completion:£995
Find out more
The APRC is calculated based on the following: A repayment mortgage of £180,000 payable over 31 years 9 months on our variable tracker rate for 2 years at 1.61% above BoEBR and then on our current RMVR variable rate of 4.74%(variable) would require 24 monthly payments of £651.74 and 356 monthly payments of £903.02 followed by a final payment of £296.46. The total amount payable would be £337,413.34 made up of the loan amount plus interest, Completion fee of £995, CHAPS fee of £6. The interest rates quoted include a 0.25% Direct Debit discount.
Product name Initial rate payable Changing to The overall cost for comparison is Early Repayment Charges Max LTV Mortgage fees  
2 Year Buy to Let Base Rate Tracker Mortgage 2.30% Variable (BoEBR + 1.80%) for 2 years from completion. The pay rate will not go below a floor of 2.05%. 4.94%
our current BMVR, a variable rate, for the remainder of the term
4.6% APRC None 60% Application:£0
Completion:£495
Find out more
The APRC is calculated based on the following: A repayment mortgage of £105,000 payable over 16 years 10 months on our variable tracker rate for 2 years at 1.80% above BoEBR and then on our current BMVR variable rate of 4.94%(variable) would require 24 monthly payments of £202.21 and 178 monthly payments of £434.31. The total amount payable would be £187,657.41 made up of the loan amount plus interest, Completion fee of £495, CHAPS fee of £6. The interest rates quoted include a 0.25% Direct Debit discount.
2 Year Buy to Let Base Rate Tracker Mortgage 2.40% Variable (BoEBR + 1.90%) for 2 years from completion. The pay rate will not go below a floor of 2.15%. 4.94%
our current BMVR, a variable rate, for the remainder of the term
4.7% APRC None 75% Application:£0
Completion:£495
Find out more
The APRC is calculated based on the following: A repayment mortgage of £145,000 payable over 21 years 10 months on our variable tracker rate for 2 years at 1.90% above BoEBR and then on our current BMVR variable rate of 4.94%(variable) would require 24 monthly payments of £291.00 and 238 monthly payments of £598.97. The total amount payable would be £295,034.53 made up of the loan amount plus interest, Completion fee of £495, CHAPS fee of £6. The interest rates quoted include a 0.25% Direct Debit discount.
3 Year Buy to Let Base Rate Tracker Mortgage for Purchase & Remortgage 2.55%Variable (BoEBR + 2.05%) for 3 years from completion. The pay rate will not go below a floor of 2.55%. 4.94%
our current BMVR a variable rate for the remainder of the term
4.60% APRC 0.5% for 3 years 75% Application:£0
Completion:£0
Find out more
The APRC is calculated based on the following: A repayment mortgage of £160,000 payable over 21 years 10 months on our variable tracker rate for 3 years at 2.05% above BoEBR and then on our current BMVR variable rate of 4.94%(variable) would require 36 monthly payments of £340.01 and 226 monthly payments of £658.69. The total amount payable would be £321,102.39 made up of the loan amount plus interest, CHAPS fee of £6. The interest rates quoted include a 0.25% Direct Debit discount.
2 Year Base Rate Tracker Mortgage No Fee 1.45% Variable (BoEBR + 0.95%). The pay rate will not go below a floor of 0.75%. 4.74%
our current RMVR a variable rate for the remainder of the term
4.0% APRC 0.5% for 2 years 60% Application:£0
Completion:£0
Find out more
The APRC is calculated based on the following: A repayment mortgage of £115,000 payable over 16 years 10 months on our variable tracker rate for 2 years at 0.95% above BoEBR and then on our current RMVR variable rate of 4.74%(variable) would require 24 monthly payments of £641.54 and 177 monthly payments of £803.36 followed by a final payment of £642.33. The total amount payable would be £158,234.01 made up of the loan amount plus interest, CHAPS fee of £6. The interest rates quoted include a 0.25% Direct Debit discount.
2 Year Base Rate Tracker Mortgage No Fee 1.64% Variable (BoEBR + 1.14%). The pay rate will not go below a floor of 0.75%. 4.74%
our current RMVR a variable rate for the remainder of the term
4.2% APRC 0.5% for 2 years 75% Application:£0
Completion:£0
Find out more
The APRC is calculated based on the following: A repayment mortgage of £160,000 payable over 21 years 10 months on our variable tracker rate for 2 years at 1.14% above BoEBR and then on our current RMVR variable rate of 4.74%(variable) would require 24 monthly payments of £726.57 and 237 monthly payments of £956.38 followed by a final payment of £637.03. The total amount payable would be £244,736.77 made up of the loan amount plus interest, CHAPS fee of £6. The interest rates quoted include a 0.25% Direct Debit discount.
2 Year Base Rate Tracker Mortgage Standard Fee 1.53% Variable (BoEBR + 1.03%). The pay rate will not go below a floor of 0.75%. 4.74%
our current RMVR a variable rate for the remainder of the term
4.3% APRC None 75% Application:£0
Completion:£995
Find out more
The APRC is calculated based on the following: A repayment mortgage of £160,000 payable over 21 years 10 months on our variable tracker rate for 2 years at 1.03% above BoEBR and then on our current RMVR variable rate of 4.74%(variable) would require 24 monthly payments of £722.57 and 237 monthly payments of £961.44 followed by a final payment of £637.92. The total amount payable would be £245,840.88 made up of the loan amount plus interest, Completion fee of £995, CHAPS fee of £6. The interest rates quoted include a 0.25% Direct Debit discount.
2 Year Base Rate Tracker Mortgage No Fee 2.05% Variable (BoEBR + 1.55%). The pay rate will not go below a floor of 0.75%. 4.74%
our current RMVR a variable rate for the remainder of the term
4.4% APRC 0.5% for 2 years 85% Application:£0
Completion:£0
Find out more
The APRC is calculated based on the following: A repayment mortgage of £170,000 payable over 26 years 7 months on our variable tracker rate for 2 years at 1.55% above BoEBR and then on our current RMVR variable rate of 4.74%(variable) would require 24 monthly payments of £691.13 and 294 monthly payments of £919.26 followed by a final payment of £470.13. The total amount payable would be £287,319.69 made up of the loan amount plus interest, CHAPS fee of £6. The interest rates quoted include a 0.25% Direct Debit discount.
2 Year Base Rate Tracker Mortgage Standard Fee 1.90% Variable (BoEBR + 1.40%). The pay rate will not go below a floor of 0.75%. 4.74%
our current RMVR a variable rate for the remainder of the term
4.4% APRC None 85% Application:£0
Completion:£995
Find out more
The APRC is calculated based on the following: A repayment mortgage of £170,000 payable over 26 years 7 months on our variable tracker rate for 2 years at 1.40% above BoEBR and then on our current RMVR variable rate of 4.74%(variable) would require 24 monthly payments of £682.65 and 294 monthly payments of £923.48 followed by a final payment of £473.74. The total amount payable would be £288,360.46 made up of the loan amount plus interest, Completion fee of £995, CHAPS fee of £6. The interest rates quoted include a 0.25% Direct Debit discount.
2 Year Base Rate Tracker Mortgage No Fee 2.24% Variable (BoEBR + 1.74%). The pay rate will not go below a floor of 0.75%. 4.74%
our current RMVR a variable rate for the remainder of the term
4.5% APRC 0.5% for 2 years 90% Application:£0
Completion:£0
Find out more
The APRC is calculated based on the following: A repayment mortgage of £180,000 payable over 31 years 9 months on our variable tracker rate for 2 years at 1.74% above BoEBR and then on our current RMVR variable rate of 4.74%(variable) would require 24 monthly payments of £660.19 and 356 monthly payments of £898.95 followed by a final payment of £302.81. The total amount payable would be £336,173.57 made up of the loan amount plus interest, CHAPS fee of £6. The interest rates quoted include a 0.25% Direct Debit discount.
2 Year Base Rate Tracker Mortgage Standard Fee 2.11% Variable (BoEBR + 1.61%). The pay rate will not go below a floor of 0.75%. 4.74%
our current RMVR a variable rate for the remainder of the term
4.5% APRC None 90% Application:£0
Completion:£995
Find out more
The APRC is calculated based on the following: A repayment mortgage of £180,000 payable over 31 years 9 months on our variable tracker rate for 2 years at 1.61% above BoEBR and then on our current RMVR variable rate of 4.74%(variable) would require 24 monthly payments of £651.74 and 356 monthly payments of £903.02 followed by a final payment of £296.46. The total amount payable would be £337,413.34 made up of the loan amount plus interest, Completion fee of £995, CHAPS fee of £6. The interest rates quoted include a 0.25% Direct Debit discount.

Once the fixed, discount or tracker period of the mortgage ends it will change to the Residential Mortgage Variable Rate (RMVR) or if you have a Buy to Let Mortgage, the Buy to Let Variable Rate (BMVR), which is a different interest rate to the Society's Residential Standard Variable Rate (RSVR), although both are set by the Society. For further details see our Skipton Variable Rates page.

YOUR HOME MAY BE REPOSSESSED IF YOU DO NOT KEEP UP WITH YOUR MORTGAGE REPAYMENTS. IF YOU HAVE A BUY TO LET MORTGAGE AND YOU FAIL TO KEEP UP WITH THE PAYMENTS ON YOUR MORTGAGE A 'RECEIVER OF RENT' MAY BE APPOINTED AND/OR YOUR RENTAL PROPERTY MAY BE REPOSSESSED.
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