The reductions will be applied across its product range
Skipton International has reduced rates across its UK buy-to-let fixed rate and Channel Island residential range, including its five-year fixed rate products.
The offshore bank said the 0.50% reductions will be applied across its product range, including for both purchase and remortgage applications.
Rates on its five-year buy-to-let fixed mortgage product start at 4.99% for loans over £500,000, 5.29% for loans of £250,000 to £500,000, and 5.49% for £100,000 to £250,000. Application fees for new mortgages are £1,999, and £999 for remortgages.
Read more: Skipton International lowers minimum loan.
“Despite the base rate rising by a further 0.75%, we are committed to keeping rates as low as possible to support buyers through these challenging times,” said Roger Hughes (pictured), mortgage business development manager at Skipton International.
“This move is one of the many initiatives we have launched to ease the burden of buying a property or remortgaging in the current market. We will work with the industry and policy makers to do everything we can to keep rates as low as possible.”
Skipton said new rates would also be available to its network of brokers, in addition to direct applications on its website.
