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Skipton increases B2L LTV to 75%

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Skipton Building Society has launched a range of buy-to-let mortgages for property investors, with a maximum LTV of 75 per cent, up from 70 per cent.

The new range of two, three and five-year fixed rate products includes a choice of rate/fee combinations.

It if offering a two-year fixed rate up to 70 per cent LTV at 4.69 per cent, with an application fee of £245 and completion fee of £750.

It is also offering a two-year fixed rate up to 75 per cent LTV with a rate of 5.09 per cent, application fee of £245 and completion fee of £1,250.

As well as a three-year fixed rate up to 70 per cent LTV at 4.59 per cent, with an application fee of £245 and completion fee of £750.

And a three-year fix up to 75 per cent LTV at 5.39 per cent, with a £245 application fee and £1,250 completion fee.

These new products are available direct and to all intermediaries.

Skipton head of products Kris Brewster says: “Tenant demand has remained strong throughout 2011 and into 2012, according to our estate agent subsidiary, Connells Group.

“It has recorded a 14.8 per cent uplift in the number of tenants moving into rental properties through its 95 offices nationally in 2011 compared to the previous year.

“Based on this insight, we believe buy-to-let continues to play a vital part in returning the housing market to health, in terms of meeting significant demand for quality private rental properties-which are a vital stepping stone for the first time buyers of the future-and in contributing to property turnover amid the ongoing, subdued market conditions.”

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