Skipton launches five-year B2L fix at 4.89%

Skipton Building Society is launching a five-year fixed rate buy-to-let mortgage at 4.89%.

The product is available up to 70% LTV, comes with a 2% completion fee and is available for both purchase and remortgage.

It has a maximum loan amount of £500,000, and offers free legals and valuations for remortgage customers.

Kris Brewster, head of products at Skipton, says: “We’re delighted to add this new product to our buy-to-let range. Swap rates remain unusually low and this is allowing us to offer the kind of longer term fixed buy-to let rate which would have been almost unheard of in the past, representing a good opportunity for landlords who intend to keep their properties for the long term and prefer the certainty of knowing what their payments are going to be over an extended period of time.

“In light of the continued lettings market boom we’re doing everything we can at Skipton to make attractive products available to people wanting to invest in buy-to-let property.”