Skipton extends maximum term of UK buy-to-let mortgages

Published on

Skipton International has extended the maximum mortgage term of its UK buy-to-let mortgages to 35 years.

Customers can now benefit from an additional five years on the maximum mortgage term; traditionally the market offers a maximum term of 25-30 years. Applicants will need to be 69 years of age or younger at the time of application and the facility must be repaid by the time the customer reaches the age of 85. Additionally, they must have a UK bank account in place.

This news follows a period of change to its lending terms which has seen the Channel Island bank include studio apartments within its property criteria, as well as offering mortgages to UK expatriates and non nationals resident overseas.

Roger Hughes, business development manager at Skipton International, said: “We have spent considerable time this year analysing our UK buy-to-let offering and looking for ways in which we can be more inclusive.

“These recent changes have prompted a great response from those looking to buy in the UK and we will continue to enrich our proposition to enable more people resident overseas to purchase investment property.”

COMMENT ON MORTGAGE SOUP

We want to hear from you!
Leave a comment and get the conversation started.
You need to register to post, so please login or sign up below.

Latest articles

Market Harborough cuts rates on larger residential loans

Market Harborough Building Society has reduced rates on its larger loan products by as...

Shawbrook promotes Apollonio to lead retail mortgage sales

Shawbrook has promoted Louise Apollonio to sales and distribution director for retail mortgages, as...

Clydesdale Bank raises fixed mortgage rates across core and specialist ranges

Clydesdale Bank is set to raise a range of fixed mortgage rates from Monday,...

Growth in online auctions reshaping UK property market

The UK property auction market is being rapidly transformed by digital platforms, with record...

Mount Street appoints new head of HR to lead global people strategy

Mount Street Group has appointed Fatima Badini as head of human resources, with a...

Latest publication

Other news

Market Harborough cuts rates on larger residential loans

Market Harborough Building Society has reduced rates on its larger loan products by as...

Discount Market Value: a local solution for a national housing challenge

The UK housing market is under constant scrutiny, especially when it comes to bolstering...

Shawbrook promotes Apollonio to lead retail mortgage sales

Shawbrook has promoted Louise Apollonio to sales and distribution director for retail mortgages, as...