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Skipton reduces BTL rates by up to 0.23%

Skipton Building Society has cut rates by up to 0.23% across its buy-to-let range on both new acquisition and remortgage deals.

The lender’s new buy-to-let range includes a selection of two, three and five-year fixed rate mortgage products.

The two-year fixed range includes a fee-free product at 2.19%, available to those looking to borrow up to 60% loan-to-value (LTV) with a £995 fee.

The three-year range includes a 1.99% deal up to 60% LTV, also with a £995 fee.

The five-year deals are sure to prove popular, given that a growing number of landlords are opting for five-year fixed rate mortgages in favour of short-term alternatives.

Highlights including a new deal at 2.29% up to 60% LTV with a £995 fee, a 2.4% deal up to 70% LTV with £1,995 fee, and a 2.59% product to 75% LTV with £995 fee.

All buy-to-let products offer free valuations and certain remortgage products also offer free standard legal fees.

Kris Brewster, head of products at Skipton, said: “With rate reductions of up to 0.23%, we believe Skipton is offering good competitive products, with a range of completion fees providing more choice.

“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.”

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