Skipton BS beefs up buy to let mortgage range

Skipton Building Society has enhanced its buy to let mortgage selection, with two new two-year base rate trackers and a two-year fixed rate deal.

The 70 per cent loan to value (LTV) tracker mortgage has an interest rate of 4.19 per cent, made up of the Bank of England base rate – currently 0.5 per cent – plus 3.69 per cent.

It has an application fee of £245 and completion fee of £750.

The Base Rate Tracker available up to 75 per cent LTV has a lending rate of 4.59 per cent (base rate plus 4.09 per cent), an application fee of £245 and completion fee of £1,250.

Meanwhile, the fixed rate mortgage is available up to 60 per cent LTV and has an interest rate of 3.89 per cent, an application fee of £245 and completion fee of £2,250.

At the end of the two year term, all three mortgages revert to a variable rate of Bank base rate plus 4.45 per cent, which is currently 4.95 per cent.

Skipton’s head of products, Kris Brewster, said: “We’re continuing to cater for the sustained, strong private rental demand and increasing consumer interest in property investment, with these new buy to let products.”