Skipton Building Society has launched a new range of fixed rate buy-to-let purchase products with rates reduced by up to 0.16 percentage points.
All buy-to-let purchase products also now include a free standard valuation.
The mutual says it is anticipating a surge in interest in buy-to-let properties before the recently-announced 3% stamp duty surcharge is introduced in April and is introducing these products with free valuations to help landlords buy new buy-to-let properties.
The Skipton is offering a range across two and five year fixed rate terms with products priced separately at 60%, 70% and 75% LTV bands. All buy-to-let purchase products now include a free valuation for the first time, meaning all Skipton products now include a free valuation.
The new buy-to-let range for purchasers includes fee free two-year fixes at 2.89% to 60% LTV, and 3.62% to 75% LTV.
Five year fixes include 3.59% to 70% LTV with £1,995 fee, and fee free products at 3.99% to 70% LTV, and 4.27% to 75% LTV. Current buy-to-let remortgage products are unaffected by this change.
Kris Brewster (pictured), the Society’s head of products, said: “We recognise there is likely to be a surge in interest in buy-to-let properties ahead of the stamp duty changes and we have designed these products to help landlords purchase new buy-to-let properties with a free valuation on all buy-to-let products.
“Buy-to-let continues to be a valuable and high-performing part of our mortgage portfolio. Our buy-to-let deals continue to prove popular and we are delighted to offer this refreshed fixed rate mortgage range with lower interest rates.”
