Skipton Building Society launches 'competitive' buy-to-let products
Individuals interested in buy-to-let mortgages may be pleased to hear that Skipton Building Society has unveiled two new tracker products.
The first offers 60 per cent loan-to-value (LTV) and interest rates worked out by adding 2.74 per cent to the Bank of England base rate (BBR), while the second is 70 per cent LTV and the BBR plus 3.09 per cent.
Kris Brewster, the society's head of products, said: "We now offer both variable and fixed rates on our buy-to-let mortgage range, thereby allowing customers to choose the product that is most suited to their individual circumstances."
He added it is currently an "excellent" time to consider renting out property, with low mortgage availability providing a boost to the rental market.
The firm cited research conducted by Connells Group - its estate agency sector - which found that in 2010 a 37 per cent increase in demand for rental property was seen in its branches, in comparison to the previous year.
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