Skipton cuts buy-to-let mortgage rates

Skipton has cut rates on its buy-to-let products by up to 0.28 per cent and refreshed its range of five-year residential fixes. The buy-to-let ra

Skipton has cut rates on its buy-to-let products by up to 0.28 per cent and refreshed its range of five-year residential fixes.

The buy-to-let range now features a two-year fixed rate at 1.67 per cent to 60 per cent loan-to-value (LTV) and a five-year fixed rate at 2.93 per cent to 70 per cent, both of which come with £995 fees.

Remortgagers can opt for two-year fixes at 1.69 per cent to 60 per cent LTV and 1.99 per cent at 70 per cent LTV, also with £995 fees.

Five-year fixes are now available at 2.08 per cent to 75 per cent LTV for those looking to purchase and 1.91 per cent to 60 per cent LTV for remortgagers.

All remortgage products offer free valuation and standard legal fees, while all purchase products come with a free standard valuation.

Kris Brewster, Skipton’s head of products, 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.

“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.”

Bob Riach, owner at Scunthorpe-based Riach Financial Advisers, said: “I use Skipton for buy-to-let. They are probably one of the friendliest lenders you can deal with; they answer their phones straight away and the staff know what they are talking about.

“They are coming out with competitive rates, so I use them for that. This seems quite a good rate and I will look at it when I do my next buy-to-let.”

simon.allin@ft.com

Go to Source

COMMENTS