The Buy-to-Let Discount Mortgage now has an initial rate of only 5.69%, whilst the new Buy-to-Let Fixed Rate is fixed at 5.89% until 30 April 2008.
Jennifer Holloway, head of media relations at Skipton Building Society, commented, "We’ve already made our buy-to-let products more attractive with the recent announcement of increased loan to values and reduced rental income cover. Added to this, I am pleased to announce a lower rate of 5.69% on our buy-to-let discount product and the introduction of a new fixed rate product for residential buy-to-let investors at 5.89%."
Key features of new buy-to-let mortgage range
* Buy-to-Let Discount (residential) – 5.69% for 3 years from completion
* Buy-to-Let Fixed Rate (residential) – fixed at 5.89% until 30 April 2008
* All mortgages change to the Society’s Buy-to-Let SVR – current rate 6.89% – following end of fixed or discounted rate
* Available up to 85% LTV
* Free valuation and free legal fees through Skipton Home Conveyancing Service on all residential buy-to-let remortgage cases
* Capital repayments of up to 10% of the original loan allowed each year, without charge, within early repayment charge period
* £100 application fee – payable upfront and non-refundable
* Completion fees: £299 with BTL Discount and £399 with BTL Fixed Rate – can be added to the loan
* Early repayment charges:
Buy-to-Let Discount – 3% for 3 years following completion
Buy-to-Let Fixed Rate – 5% until 30 April 2006, 4% until 30 April 2007 and 3% until 30 April 2008
Interested customers should call 08457 171777 or visit their local branch for further information
