Changes to your mortgage
New customers
Frequently Asked Questions
A mortgage is a long-term commitment. It’s really important to understand the whole potential cost of your mortgage. This includes your mortgage will move onto when your current deal ends.
The three main variable rates our product deals move onto are either our Mortgage Variable Rate (MVR), a Standard Variable Rate (SVR), or our Base Rate Tracker (BRT). These rates may change by different amounts at different times.
Your mortgage offer will outline which variable rate you will move onto when your current deal ends.
There may be a difference between your current rate and MVR, SVR or BRT. This means your monthly payments could go up when your current deal ends.
For this reason, it’s a good idea to keep an eye on the MVR, SVR or BRT rate that you’d move onto.
That way you can be prepared for any potential changes to your payments.
Find out more about Skipton Variable Rates.
Yes. Although some of our mortgages have restrictions on how much you can overpay (either by regular overpayments or as a lump sum) without incurring an Early Repayment Charge. For more details, see your mortgage account summary in the Skipton app or on Skipton Online. Or if you prefer, you can find details in your mortgage offer.
It’s important to note making lump sum overpayments could trigger a recalculation of your monthly repayment amount.
If you’ve had a mortgage with us for at least the last six months, you may be eligible to borrow up to 95% of the value of your home (75% for Buy to Let customers). It depends on the type of mortgage you hold. It is also subject to affordability requirements.
You should consider if other forms of borrowing are more suitable for you. That’s because any money we lend through additional borrowing will be secured against your property, and so your overall mortgage balance will increase.
To find out more, please visit our Additional Borrowing page.
If you already pay your mortgage by Direct Debit, you may have noticed your payment doesn’t always leave your account on the exact due date.
This is because of the time it takes for the Direct Debit to be processed after we have requested the payment. There are also times when the Direct Debit date falls over a weekend and/or Bank Holiday.
To read more on Direct Debits, visit our Direct Debit mandate and schedule page.
Online
You can complete our Direct Debit Mandate form online. When we receive it, we’ll set up the Direct Debit and let you know when it’s done.
Direct Debit mandate and schedule
Call us
You can amend a Direct Debit over the phone by calling our Mortgage and Retention team on 0345 850 1711. Or you can use our web chat.
Post
Download the Direct Debit Mandate PDF and return it to the address shown in the form.
- We will send you an email to confirm your Decision in Principle has been accepted.
- When you have an offer accepted on the property you’re buying, you will have 30 days to submit your full mortgage application. Our mortgage advisers can complete a full mortgage application with you over the phone or in a video appointment. You'll find details of how to book a mortgage appointment in your email from us.
Not found what you need?
If you haven’t found the information you’re looking for on this page, please try our Mortgages Homepage.
Or if you prefer, you can call our helpful team on 0345 850 1711.