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Skipton launches new longer and lower buy-to-let range

16th September 2014 Print

Skipton Building Society is ‘breaking new ground’ in launching a new competitive range of buy-to-let products, with fifty per cent being longer term offerings.

The Society’s new five and seven year deals offer long-term peace of mind for landlords in an uncertain interest rate environment.

The new range includes high fee options to 75% over each fixed term 2, 3, 5 and 7-year and new 7-year fixed rate buy-to-let mortgages, including low rates at 60%, 70% and 75% LTV.

The Society can also announce it is increasing its buy-to-let procuration fees by 15 basis points from 0.35% to 0.50% for new BTL cases received from 17Th Sept.

Paul Darwin, Head of Intermediary Sales at Skipton, said: “This new range of buy-to-lets really is breaking new ground and certainly offers something for everyone. In particular it’s great for landlords who, thanks to the longer term deals, want to secure their future in terms of buy-to-let commitments.

“We’re also really pleased to announce an increase in buy-to-let proc fees for brokers. In doing so we’re able to share the benefit of having longer term relationships with customers, thanks to this new range. We continually review our position against competitors and we have seen encouraging growth in the buy-to-let arena. So with all of this in mind, I am thrilled to announce an increase in proc fees to 50bps across the buy-to-let range, from tomorrow, 17 September.”

The new buy-to-let products are available through the Society's Skipton Direct customer service centre and all intermediaries.

*Remortgages qualify for free standard legal fees and a free standard valuation. There may be some additional legal costs payable where the remortgage is above £1,000,000. A free standard valuation is available on properties valued up to £1,500,000. If a Homebuyers Report or Buildings Survey is required then the additional cost associated with these reports will incurred by the customer.

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