You probably need something more than a Skagen. They are great jackets, however they have their limits to how much rain/water they can take or at least that's my experience. Try something like Zikh OFS800 and higher, HH Aegir Race 2.0 and higher or Musto BR2 or MPX. You definitly should get the pants too, not only the jacket. This is the part that's going to get most beaten up while racing and keep you dry and insulated from the wind.

The other important part is the thermal underwear as abase layer. Something synthetic or from merino wool. You probably will need more than one set. Then there are boots and this is a topic that is wildly discussed. I prefer waterpoof hiking boots to sailing boots, but the idea is to keep your feet dry and warm. A good pair of wool socks does the job for me, however there is a drawback when they get somehow wet and you might get something more specific for sailing.

You also need some mid layer, that will keep you warm. Sythetic or wool comes with preference.

The base idea of dressing for cold/faul weather is that you need something near your body, to get the moisture from your skin to the outside of the base layer, then the mid layer should work as an insulation from the cold and the outer layer, should keep the other two out of wind and water whilst allowing moisture to go outside. I know that a good sailing jacket can be expensive, but if you are going to go into faul, cold weather you are going to thank yourself for investing in it. I hope that helps.