Skipton cuts buy-to-let rates

Skipton Building Society is lowering the rates on a number of its buy-to-let mortgages by 0.10 per cent today.

The two-year fixed rate at 70 per cent LTV is now 4.19 per cent, down from 4.29 per cent while for 75 per cent LTV, the rate has been reduced to 4.39 per cent, from 4.49 per cent.

The three-year buy-to-let fixed rate at 70 per cent LTV has been cut from 4.69 per cent to 4.59 per cent.

Skipton’s Head of Products Kris Brewster says: “We’re constantly monitoring the marketplace and adjusting our products and interest rates to ensure they remain among the most attractive available. We continue to experience strong demand from property investors and are delighted to be able to seize an opportunity to make our buy-to-let product rates even more competitive.”

All products come with an application fee of £245 and a completion fee of £750, except for the two-year fixed at up to 75 per cent which comes with a £1,250 completion fee.