Skipton Building Society has added a new fixed rate deal to its range of buy-to-let mortgages.

The new five-year fix joins the Skipton’s existing range of two-year fixed and tracker mortgages for landlords.

It is priced at 4.89% and is available up to 70 LTV. The maximum loan amount is £500,000.

It comes with a 2% completion fee and penalty-free overpayments of up to 10% per annum are allowed during the product term.

It is available via Skipton’s branches, Skipton Direct contact centre and all intermediaries.

Kris Brewster, head of products, said: “We’re delighted to add this new product to our buy-to-let range