Skipton variable rates
The circumstances currently prevailing are no longer exceptional under each of two separate tests, which have been defined by the Society Board as follows:
1. Base Rate is less than or equal to 2.7%
| Current Level | Threshold | Status | |
|---|---|---|---|
| Bank of England Base Rate (last changed 06/02/2025) | 4.50% | 2.70% | Exceptional circumstances no longer prevail |
2. Base Rate minus the UK average Instant Access savings rate (as published monthly by the Bank of England) is less than or equal to 2.25% for each of the three preceding months
| Latest | Status | |
|---|---|---|
| UK average Instant Access savings rate** | 2.35% | Exceptional circumstances no longer prevail |
| Bank of England Base Rate | 4.50% | |
| Difference between UK average Instant Access savings rate and Bank of England Base Rate | 2.15% |
** If you wish to look at historical data, visit the Bank of England website.
The circumstances would be exceptional if either of these tests are satisfied.
Overall status:
Exceptional circumstances no longer prevail
We promised to track the performance of these tests and exceptional circumstances do not currently prevail. We will voluntarily restore the ceiling on our residential and buy-to-let standard variable rates during the period exceptional circumstances no longer prevail.
