The Skipton Building Society has added new products to its buy-to-let product range.
The mutual is adding two new two-year base rate tracker products and a two-year fixed rate option to its range, with rates starting from 3.89%.
Key product details:
Two-year fixed rate to 60% LTV
Interest rate: 3.89%;
Fixed until: 30/06/14;
Application fee: £245, completion fee: £2,250.
Two-year base rate tracker to 70% LTV
Interest rate: 4.19% (Bank of England Base Rate plus 3.69%);
Until: two years from completion;
Application fee: £245, completion fee: £750.
Two-year base rate tracker to 75% LTV
Interest rate: 4.59% (Bank Base Rate plus 4.09%);
Until: two years from completion;
Application fee: £245, completion fee: £1,250.
Criteria applicable to all of the above products:
Early repayment charge 3% of capital repaid plus interest to the end of the month;
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.
Kris Brewster, Skipton’s head of products, said: “We’re continuing to cater for the sustained, strong private rental demand and increasing consumer interest in property investment, with these new buy-to-let products which enhance our already attractive range.”