Finance News

Skipton launches new buy-to-let mortgage products

Ryan - August 22, 2016

Skipton Building Society has today launched a new range of fixed-rate buy-to-let mortgage products. Interest rates on some products have been lowered by up to 0.5%.

New products include two and five-year term purchase and remortgage deals, which come at 60%, 70% and 75% LTV. Borrowing rates begin at less than 2%.

Fixes

The new two-year fixed rate at 1.89% to 60 LTV and five-year fix at 2.99% up to 70% LTV both come with arrangement fees of £1,995.

For people looking to remortgage, two-year fixed range options include a 2.15% to 60% LTV and a 2.49% at 70% LTV, both with £995 fees.

All remortgage options on offer by Skipton include free valuation and legal fees. All purchase products include a free standard valuation.

Skipton launches new buy-to-let mortgage products

Skipton launches new buy-to-let mortgage products

Attractive

According to Kris Brewster, Skipton’s head of products, buy-to-let is still an attractive proposition, especially given the fact that interest rates are now at 0.25%.

Mr Brewster said, ‘we are delighted to launch this refreshed fixed-rate buy-to-let mortgage range offering lower interest rates. In the present environment of ultra-low interest rates, buy-to-let would seem to be a more and more attractive proposition for potential landlords.’[1]

‘Skipton’s buy-to-let deals continue to prove popular and we believe this new range offers great value for purchasers of buy-to-let property and for those wishing to remortgage their portfolio. We have a total of 36 products in our buy-to-let range to give landlords and potential landlords plenty of choice and as many different options as possible to help suit their many different needs,’ he added.[1]

[1] https://www.landlordtoday.co.uk/breaking-news/2016/8/buy-to-let-rates-cut-by-skipton