Commercial mortgage specialist TBMC has launched two new buy-to-let products with Skipton Building Society.
The products include a 1.99 per cent two-year fixed rate up to 60 per cent loan-to-value and a 2.35 per cent two-year fixed rate up to 70 per cent LTV.
Both have a £2,495 completion fee and include a free valuation for purchases and remortgages, and free legal fees for remortgages only.
Andy Young, chief executive at TBMC, said that the two-year fixed product at 60 per cent LTV has one of the lowest initial rates in the current buy-to-let mortgage market, which will be attractive to clients with higher deposits for their properties.
“The current marketplace is very competitive and we have seen a number of lenders reducing their rates in recent weeks. This is a very good time for landlords to arrange fixed rate mortgages for their buy-to-let properties, especially with the expectation of rate rises next year.”
Paul Darwin, head of intermediary relationships at Skipton, confirmed that two-year fixed rates are currently very popular and he is expecting a high demand for these new products.