Skipton Building Society has launched a buy-to-let mortgage with a 1.34 per cent discount off its buy-to-let variable rate in the first year, giving an initial pay rate of 4.75 per cent.
This is followed by a 0.75 per cent discount in year two, giving a current rate of 5.34 per cent, and a 0.25 per cent discount in year three, giving a current rate of 5.84 per cent. The product, available up to 80 per cent loan to value, then reverts to Skipton's buy-to-let variable rate, currently 6.09 per cent.
It has early redemption charge of two per cent in the first two years, and one per cent in year three.
Head of media relations Jennifer Holloway says: ” Our new buy-to-let mortgage has discounts in the first three years and an attractive starting rate, to soften the burden of initial costs, and is ideal for budding property landlords.”