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Exceptional circumstances

The circumstances currently prevailing are no longer exceptional under each of two separate tests, which have been defined by the Society Board as follows:

Last Updated: 19 December 2024.

1. Base Rate is less than or equal to 2.7%

Current Level Threshold Status

Bank of England Base Rate
(last changed 07/11/2024)

 4.75% 2.70% Exceptional circumstances no longer prevail
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See the past performance of this test

Graph of Bank of England Base Rate from June 2011 till December 2024

2. Base Rate minus the UK average Instant Access savings rate (as published monthly by the Bank of England) is less than or equal to 2.25% for each of the three preceding months

Latest Status
UK average Instant Access savings rate** 2.55% Exceptional circumstances no longer prevail

Bank of England Base Rate

 4.75%

Difference between UK average Instant Access savings rate and Bank of England Base Rate

 2.20%

** If you wish to look at historical data, visit the Bank of England website.

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See the past performance of this test

Graph of the difference between average Branch Instant Access Savings Rate account and Bank of England Base Rate from June 2011 till December 2024

The circumstances would be exceptional if either of these tests are satisfied.

Overall status:

Exceptional circumstances no longer prevail

We promised to track the performance of these tests and exceptional circumstances do not currently prevail. We will voluntarily restore the ceiling on our residential and buy-to-let standard variable rates during the period exceptional circumstances no longer prevail.

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Site intended for UK residents only. Skipton Building Society is a member of the Building Societies Association. Authorised by the Prudential Regulation Authority and regulated by the Financial Conduct Authority and the Prudential Regulation Authority, under registration number 153706, for accepting deposits, advising on and arranging mortgages and providing Restricted financial advice.
Principal Office, The Bailey, Skipton, North Yorkshire, BD23 1DN.

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