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Skipton releases new set of buy to let mortgage rates

[ Posted April 7th, 2012 ]

Skipton Building Society announced a new set of buy to let mortgage rates this week designed to attract landlords that are looking for fixed products with two, three and five year deals. The new products include different rate/fee combinations to attract every type of lender and is the first time that the building society is offering landlords 75% LTVs since they entered the buy to let market last year.

As buy to let lenders continue to dominate the lending market this is Skipton’s attempt to lure them towards their products. The two year fixed mortgages are available with LTVs as high as 70% and come with an attached rate of 4.69%.  The completion fee for this product is £750 and the application fee is £245.

Also available is another two year product that offers the elusive 75% LTV but  as a trade off the rate increases up to 5.09% with a completion fee of £1250 and the same application fee as the previous product. These are good choices for the landlord that wants a short term deal with the hope of better products on the market once the loan value decreases.

For those looking for a slightly longer deal Skipton is also offering a three year set of fixed deals that also range in value from 70-75% LTVs.  The buy to let mortgage rates range from 4.59% to 5.39%; with the latter corresponding to the 75% LTV for those that do not have as high of a deposit or equity in their products. The higher LTV product comes with a completion fee of £1,250, the lower product comes with a completion fee of £750, and both have an application fee of £245.

Also available are two five year fixed rate products also set with 70 and 75% LTVs. The five year 70% LTV product is an excellent choice for those looking to cut down on fees as it does not carry an application fee and comes with a 2% completion fee based on the value of the loan and an overall interest rate of 5.19%. The 75% LTV comes with an interest rate that is set at 5.69%, an application fee of £245, and a completion fee of £1,250 which makes it a good choice for those with a high value mortgage.

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