Skipton cuts buy-to-let rates by up to 0.28%

Scissors-Cut-Tailor-Measure-Measurement-700.jpg

Skipton Building Society is tomorrow cutting buy-to-let rates by up to 0.28 per cent.

The lender’s new buy-to-let range for purchases includes a two-year fixed rate at 1.67 per cent to 60 per cent LTV and a five-year fixed rate at 2.93 per cent to 70 per cent.

Both have £995 fees.

For remortgage customers, Skipton’s two-year fixed range includes a 1.69 per cent to 60 per cent LTV option and a 1.99 per cent at 70 per cent LTV, both with £995 fees.

All remortgage products have free valuations and standard legal fees, and all purchase products include a free standard valuation.

Yesterday, Skipton reduced rates on three fee-free five-year residential products.

These now include 2.08 per cent to 75 per cent for purchases, and 1.91 per cent to 60 per cent LTV for those wishing to remortgage.

Skipton Building Society head of products Kris Brewster says: “We are delighted to launch this refreshed fixed rate buy-to-let mortgage range offering lower interest rates.

“In the present environment of ultra low interest rates, buy to let would seem to be a more and more attractive proposition for potential landlords.”