Skipton Building Society reduces BTL fixed rates

The new range includes high fee options to 75% over each fixed term, two, three, five and seven-year mortgages, and new seven year fixed rate BTL mortgages, including low rates at 60%, 70% and 75% LTV.

Skipton has increased its BTL procuration fees by 15 basis points from 0.35% to 0.50% for BTL cases from 17th September 2014.

Paul Darwin, head of intermediary sales at Skipton, said:

“The new BTL range really is breaking new ground and offers something for everyone. In particular, it is great for landlords.

“We have also announced an increase in BTL procuration fees for brokers. Thus we can share the benefit of longer-term customer relationships. We continually review our position and we have seen encouraging growth in BTLs. So I am thrilled to announce an increase in procuration fees to 50 basis points across the BTL range.”

Stuart Cunningham, director of operations at Commercial Trust, commented:

“This range is a sign that BTL lenders are gaining confidence and looking for a bigger share of the market. Skipton is already standing out with its higher procuration fees and innovative products.”