Skipton new 3 year fixed rate mortgage for buy-to-let investors.

The Skipton BS has announced a reduction on rates and fees over its range products, including its 3 year fixed rate mortgage deals aimed at buy-to-let investors.

The lender also offers a 2 year fixed deal for mortgage-to-let investors which is made available to borrowers who have 30 per cent deposits. The new deal is offered at a rate of 3.89 per cent with a fee charged at £2,250. There is an alternative deal for a similar product but it is offered with a low mortgage fee, for this deal the completion fee will be £750 however, the rate charged is a higher 4.29 per cent.

For its buy-to-let investors with a 30 per cent deposit, Skipton has a 3 year fixed rate mortgage which is charged at 4.29 per cent with a mortgage application fee of £245 and a mortgage completion fee charged at £1,050. The lender also has a new 5 year fixed mortgage deal for which it offers a rate of 4.59 per cent, the product has an application fee charged at £245 and a mortgage completion fee charged at £2,250.

Kris Brewster who is the Head of Products at Skipton commented saying that the lender has recognised that investor landlords play an important role in bringing vitality and competition to the mortgage market. He added that they also provide private rental options for the young first-time buyers of the future. He said that Skipton give borrowers increased flexibility as their new 2 and 3 year fixed rate mortgage buy-to-let investment products are offered at various different terms, rates and fees suited to investors needs.