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: