The Skipton unveils new buy-to-let products

The Skipton unveils new buy-to-let products

Skipton Building Society

Skipton Building Society has added new products to its buy-to-let mortgage range.

They include three and five-year fixes from 4.69% at 70% LTV, with rates reduced by up to 0.10 percentage points.

Product Details:

Three-year fixed rate to 70% LTV

  • Interest rate: 4.69% (down from 4.79%)
  • Fixed until 30/09/15
  • Application fee: £245, completion fee: £750
  • ERC: 3% of capital repaid plus interest to the end of the month.

Three-year fixed rate to 75% LTV

  • Interest rate: 4.89% (down from 4.99%)
  •  Fixed until 30/09/15
  •  Application fee: £245, completion fee: £1,250
  •  ERC: 3% of capital repaid plus interest to the end of the month.

Five-year fixed rate to 70% LTV

  • Interest rate: 4.89% (down from 4.99%)
  • Fixed until 30/09/17
  • Application fee: £245, completion fee: £1,250
  • ERC: 5,4,3,3,3% of capital repaid plus interest to the end of the month.

Five-year fixed rate to 75% LTV

  • Interest rate: 5.39% (no change)
  • Fixed until 30/09/17
  • Application fee: £245, completion fee: £1,250
  • ERC: 5,4,3,3,3% of capital repaid plus interest to the end of the month.

Criteria applicable to all of the above products:

  • Revert to Bank Base Rate plus 4.45% (currently 4.95%)
  • Overpayments of up to 10% per annum allowed without penalty
  • Free legals and valuations available for remortgages.

These new fixed rates are available through the Society’s Skipton Direct customer service centre, branches and all intermediaries.

“With strong rental demand continuing, we’re keen to do everything possible to cater for people looking to invest in property,” said Kris Brewster, Skipton’s head of products.

“We hope the reduced rates on this latest suite of products will make our already competitive range even more appealing to them.”