Skipton launches new buy-to-let mortgages

Skipton is enhancing its range of buy-to-let mortgages, having returned to this market at the end of March after a period of absence.

The Society is launching a set of two and three-year fixed rate deals up to 70% LTV (previous maximum was 60% LTV), building on its initial offering with rates reduced by up to 0.30% and a simplified application process.

Kris Brewster, Head of Products, said: "We've experienced significant interest since returning to the buy-to-let space just over a month ago. This has helped us to gain further insight into the current buy-to-let marketplace and the kind of things potential borrowers are looking for, enabling us to further enhance our range with this new set of highly competitive products.

"We believe the buy-to-let sector is a vital component in the housing market's gradual return to good health and we're continuing to do our bit - as a mutual - to provide product solutions which help people to achieve their homeownership aspirations in this arena."

The experience of Skipton's estate agency business, Connells Group, has recently echoed market sentiment that the landlord sector is experiencing a resurgence.

Sequence Lettings, which is part of the Connells Group, saw the number of people looking to rent through its 82 national branches increase by 37% in 2010 compared to the previous year, and the upward trend continues into 2011.

The Society's latest offering builds on the popularity of the attractive and innovative solutions it has provided over the past year, ranging from varied and consistently competitive fixed and tracker rates to some of the only 95% LTV products available. The Society's track record for mortgage and savings value was recognised with 471 independent Best Buy table endorsements in national media during 2010.