The new rates on its five-year fixed rate mortgage product are effective now
Buy-to-let lender Skipton International has announced that it has reduced rates on its five-year fixed rate mortgage product for the purchase of UK rental property.
The Guernsey-licensed bank, which specialises in UK buy-to-let mortgages for expats and non-UK residents, said the new rates effective now are 5.49% (5.80% AER) on loans £500,000 and above, 5.79% (5.90% AER) on loans from £250,001 to £500,000, and 5.99% (6.0% AER) on loans from £150,000 to £250,000. The previous rates were 5.99%, 6.29%, and 6.69%, respectively.
“Despite the fluctuating economic situation, we all currently find ourselves in, it is imperative that banks like Skipton International do all that they can to assist,” Roger Hughes (pictured), business development manager at Skipton International, said. “This will be a huge help to all would-be UK landlords.
“Combine this new reduced rate with Skipton’s award-winning customer service and second to none turnaround times, and you’d be hard-pushed to find better on the market at present. The product is available directly via our website, or through numerous mortgage brokers worldwide.”
