Skipton Building Society Reduced Rates on Buy to Let Mortgages

Yesterday, on February 16th Skipton Building Society announced a reduction in interest rates on its buy to let mortgages.

Landlords with 30% deposit can get a 2-year fixed mortgage at as low as 3.89%, down from 4.09%. The product comes with a 245 pounds application fee and a 2,250 pounds completion fee. The same product is available with a 750 completion fee at 4.29%.

The lender also gives landlords a chance to secure longer-term mortgages. Loans for 3 and 5 years can be obtained at as low as 4.29% and 4.59% respectively.

Commenting on the reduced interest rates, Kris Brewster of Skipton Building Society, said: "We recognise that landlords play a vital role in bringing competition and vitality to the struggling mortgage market ... We're also giving people more flexibility around their choice of product term."

These and other offers from Skipton Building Society are available on the lender's website.