Consumers to 'benefit' from Skipton rates
www.moneynews.co.uk > Mortgages > Consumers to 'benefit' from Skipton rates
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Consumers to 'benefit' from Skipton rates
Fri 18th May 2007
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The building society's SVR remains at 6.89 per cent, despite last week's interest rate increase as implemented by the Bank of England's monetary policy committee.
Customers with Skipton savings accounts are also set to benefit from the base rate hike, with average increases across all variable rate accounts amounting to 0.23 per cent.
The rate changes on the Skipton mortgages and savings accounts are set to be rolled out on the first weekend of June.
John Goodfellow, chief executive of the group, said that Skipton "always makes every effort to ensure that both investors and borrowers benefit from our competitive advantage.
"Our latest interest rate changes strike that balance, keeping our SVR the lowest of any top ten building society," he added.
Skipton is the UK's seventh largest building society, with a national presence of 79 branches.
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