Key Product Details
2 Year Base Rate Tracker to 70% LTV
• Interest rate: Bank Base Rate plus 3.84% (currently 4.34%).
2 Year Base Rate Tracker to 75% LTV
• Interest rate: Bank Base Rate plus 4.09% (currently 4.59%).
Ctiteria Applicable to Both Products
• Early Repayment Charge: 1% of capital repaid plus interest to end of the month;
• Application fee: £245, completion fee: £750;
• Revert to Bank Base Rate plus 4.45% (currently 4.95%);
• Overpayments of up to 10% per annum allowed without penalty;
• Free legals and valuations available for remortgages.
Skipton’s head of products Kris Brewster said: “Our buy-to-let deals continue to prove popular. We’re launching these new tracker rates in order to offer varied options, whether people prefer the certainty of a fixed rate or would rather benefit from a lower rate now, in the expectation that a Base Rate rise may be still some way off.
“Although the fee on the 70% LTV product has risen slightly by 0.15%, the rate on the 75% LTV product remains the same and we have offset this with improvements to other product criteria.
“For example, we have reduced the fees payable on the 75% product by £500 and the ERC on both mortgages is now just 1% throughout their term.”
