Skipton Building Society has launched a fixed rate buy-to-let mortgage that it claims has a market-leading rate.
The two-year fix at 3.99% is available up to 70% LTV and comes with a completion fee of £2,495.
It is available for both purchase and remortgage customers and comes with free legals and valuations on remortgages, while the maximum loan amount is £500,000.
The product is available from today both direct and via intermediaries.
Kris Brewster, head of products at Skipton, says: “Some current and would-be landlords have been telling us that they would rather pay a larger up-front fee and benefit from a lower rate over the product term, because of the way deductions are calculated on any rental income they receive.
“That’s why we’ve structured this new product the way we have and we believe it’s a market leader of its type.”
He adds that the deal further enhances the choice Skipton offers to buy-to-let customers and intermediaries.