Skipton Building Society  

Skipton cuts buy-to-let and Help to Buy rates

Skipton cuts buy-to-let and Help to Buy rates

Skipton Building Society has cut rates on a range of deals for its buy-to-let and Help to Buy products.


The lender's Help to Buy purchase range includes a fee free two-year fixed rate at 2.05 per cent for up to 75 per cent LTV and a five-year fix at 2.12 per cent up to 60 per cent LTV.

Skipton's new buy-to-let range includes a two-year fixed rate at 1.99 per cent to 60 per cent LTV and a three-year fixed rate at 2.69 per cent up to 70 per cent LTV.

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For remortgages it offers a two-year fixed rate at 1.83 per cent up to 60 per cent LTV and 2.26 per cent for 70 per cent LTV, both with £995 fees.

Kris Brewster, head of products at Skipton, said: “In the present environment of ultra low interest rates, buy-to-let would seem to be a more and more attractive proposition for potential landlords."

Paul White, consultant at Belgravia Insurance Consulants, thought it significant that a building society with a strong track record of caution leading up to the global financial crisis was cutting its rates.

He said: "Skipton are always very useful and if they are cutting their rates so much the better, but I do not see rates going down further than this."