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Skipton increases rates on B2L deals

Skipton Building Society has today launched a refreshed range of buy-to-let products, the majority of which carry higher rates.

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The lender is offering a two-year fix at 3.99% at 70% LTV, which is up from a previous rate of 3.89%. The deal carries a £245 application fee and £2,250 completion fee.

It is also offering a three-year fix at 70% LTV with a rate of 4.59%, up from 4.29%, which comes with a £245 application fee and £1,050 completion fee. For the same 4.59% rate and application fee, borrowers can also fix for five years, but with a £2,250 completion fee.

In addition, the rate on Skipton’s five-year fix at 70% LTV with a 2% completion fee has fallen from 4.99% to 4.89%.

The new products are available both direct and through intermediaries.

Kris Brewster, head of products at Skipton, says: “We’re pleased to launch this attractive and flexible new range which offers borrowers the opportunity to fix for longer if they are looking for more lasting peace of mind, with no increase in interest rate, albeit with a slightly higher fee.

“Although the rates have increased slightly compared to our previous offering, we believe this range remains competitive and flexible compared to the marketplace.

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