Skipton Building Society has confirmed that it will not be increasing its MVR/SVR following today’s Bank of England base rate rise.
Skipton’s MVR will stay at 6.79%, which remains one of the lowest mortgage revert rates in the market.
Charlotte Harrison, CEO of Home Financing at Skipton Building Society, said: “The news of another base rate increase today will be concerning many borrowers across the UK.
“As a lender we have actively managed our MVR/SVR rates to maintain one of the lowest rates in the market, holding back more than 50% of the base rate increases.
“It is crucial as a lender we offer as much support as we can to ensure borrowers can remain secure in their own homes through this turbulent time, which is why we will not be passing on today’s base rate rise.”
