The Skipton Building Society has released an intermediary update. For full details see their latest product information here. All Skipton products are accessible through our direct to lender mortgage club with payment on completion. Contact us for details.
Skipton Announcement
Important update following the Bank of England Base Rate changes
Today the Bank of England’s Monetary Policy Committee announced a 0.50% increase to the base rate. The Bank of England Base Rate now stands at 1.75%. As a result of this announcement we can now confirm the following:
All customers who have existing mortgages which track the Bank of England Base Rate will see their account interest rate change (subject to any product rate cap) in line with their terms and conditions. For most Base Rate Tracker products, rates will be increased no later than 14 days from today, Thursday 4 August 2022.
Our existing Base Rate Tracker products will be withdrawn 10pm Sunday 7 August 2022 and replaced from Monday 8 August 2022 reflecting the Bank of England Base Rate increase.