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:
- the Base Rate is less than or equal to 2.7%, or
- the 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
The circumstances would be exceptional if either of these tests are satisfied.
The ceiling currently applicable to Residential Standard Variable Rate (RSVR) and Buy to Let Standard Variable Rate (BSVR) applies following voluntary reinstatement in June 2023. When it applies, the RSVR and BSVR cannot go above the ceiling. We will no longer continue to publish data based on the existing definitions of 'exceptional circumstances' as the Society does not currently intend to dis-apply the ceiling based on those definitions. It may however do so in the future, and we will update this page at that time with further details.
