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Skipton increases B2L LTV to 75%

Skipton Building Society has launched a range of buy-to-let mortgages for property investors, with a maximum LTV of 75%, up from 70%.

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The new range of two, three and five-year fixed rate products includes a choice of rate/fee combinations.

It if offering a two-year fixed rate up to 70% LTV at 4.69%, with an application fee of £245 and completion fee of £750.

It is also offering a two-year fixed rate up to 75% LTV with a rate of 5.09%, application fee of £245 and completion fee of £1,250.

As well as a three-year fixed rate up to 70% LTV at 4.59%, with an application fee of £245 and completion fee of £750.

And a three-year fix up to 75% LTV at 5.39%, with a £245 application fee and £1,250 completion fee.

These new products are available direct and to all intermediaries.

Kris Brewster, head of products at Skipton, says: “Tenant demand has remained strong throughout 2011 and into 2012, according to our estate agent subsidiary, Connells Group.

“It has recorded a 14.8% uplift in the number of tenants moving into rental properties through its 95 offices nationally in 2011 compared to the previous year.

“Based on this insight, we believe buy-to-let continues to play a vital part in returning the housing market to health, in terms of meeting significant demand for quality private rental properties–which are a vital stepping stone for the first time buyers of the future–and in contributing to property turnover amid the ongoing, subdued market conditions.”

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