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:

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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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