Skipton Building Society has reduced the interest rates on a selection of its buy-to-let two-year fixed rate and tracker mortgages by up to 0.34bps.
New products include:
2 Year Buy to Let Fixed Rate to 70% LTV
- Interest rate: 3.68% (reduced by 0.20%);
- Application fee: £245, completion fee: £750;
- Early repayment charge: 3/2% of capital repaid and, after the product end date, interest to the end of the month, until 28/2/15.
2 Year Fixed Rate to 75% LTV
- Interest rate: 3.88% (reduced by 0.30%);
- Application fee: £245, completion fee: £1,250;
- Early repayment charge: 3/2% of capital repaid and, after the product end date, interest to the end of the month, until 28/2/15.
2 Year Base Rate Tracker to 70% LTV
- Bank Base Rate (BBR) plus 3.10%, currently 3.60% (reduced by 0.24%);
- Application fee: £245, completion fee: £750;
- Early repayment charge: 1% of capital repaid and, after the product end date, interest to the end of the month, for two years.
2 Year Base Rate Tracker to 75% LTV
- Bank Base Rate (BBR) plus 3.30%, currently 3.80% (reduced by 0.34%);
- Application fee: £245, completion fee: £750;
- Early repayment charge: 1% of capital repaid and, after the product end date, interest to the end of the month, for two years.
Criteria applicable to all of the above products:
- Overpayments of up to 10% per annum allowed without charge;
- Free standard legals and valuations available on all remortgage products;
- Revert to our Buy to Let Mortgage Variable Rate (BMVR), currently 5.69%.
These new products are available through the Society’s Skipton Direct customer service centre, branches and all intermediaries.
Kris Brewster, Skipton’s head of products, said: “We’re delighted to take this further opportunity to reduce the rates on some of our buy to let two year fixed and tracker products.
“Today’s reductions are a further signal of our intent to continue lending strongly during 2013.”