Skipton is launching two three-year buy-to-let products exclusive to intermediaries.
The two products are the intermediary special, or the buy-to-let 60 per cent LTV three-year fix, for remortgages at 2.49 per cent to 30 November 2019. There will be a £995 fee.
The other is a buy-to-let 75 per cent LTV three-year fix for remortgages at 2.60 per cent to 30 November 2019. This also has a £995 fee.
The building society’s financial advice arm was reported to have reported a loss before tax of £900,000 at the end of June 2016, but the mortgages and savings division produced profit before tax of £46.6m, down from £49.1m against the same time last year.
Kris Brewster, head of products at Skipton, said: “It’s great that once again we can bring to the market another couple of competitive products for all our broker partners. We spend a great deal of time listening to our intermediary partners, and they’re telling us they want more options for buy-to-let clients. These two new products compliment perfectly our existing suite of products, and I’m sure will be very popular.”
Jake Rogoff, mortgage adviser at Active Brokers, said: “Skipton’s new rates are some of the most competitive in the industry. Along with the great service they provide this is definitely the way the market should be going. We can only hope other lenders will follow this lead and keep driving costs down for landlords to help cushion the pending tax changes.”
