Skipton Building Society has launched a range of buy to let and residential fixed rate products, available through intermediaries only.
The products include a new 85 per cent LTV purchase with £350 cashback on a minimum loan of £80,000, and a two year residential fixed is available at 1.99 per cent with a £999 fee.
The five year fixed buy to let product is available at 60 per cent loan to value with a rate of 2.53 per cent with free standard valuation and legals for remortgages.
Kris Brewster, Skipton’s head of products, said that the group was “committed to building mutually strong relationships with our valued professional partners”.
“At Skipton Intermediaries we spend a great deal of time talking with and listening to brokers, and it’s thanks to their feedback that we’ve been able to devise these great products and continue to support our broker partners,” he said.
David Hollingworth, from mortgage brokers London & Country, said: “Skipton’s Buy to Let options on the face of it do not offer the lowest rates but the standard free valuation and free legal work for remortgage alongside no arrangement fee will resonate with those landlords looking to lock their rate in over the medium term without having to incur substantial switching costs.
“The market is very competitive at the moment and tweaks to pricing look set to be a feature in the early stages of this year.
"Skipton is a lender that is committed to the intermediary market and is always prepared to make changes in a bid to improve its range of options.
"These rates are exclusively for brokers and put a focus on no fee products, higher LTV for residential and Buy to Let. They are up against some stern competition, for example Platform has recently launched some improved rates at 90 per cent LTV.”
