More New Buy to Let Mortgages hit the Market

23 July 2012 Categories: News

More New Buy to Let Mortgages hit the Market

Fresh off the back of Coventry Intermediaries’ news last week that they would be refreshing their entire range of buy to let mortgages, Skipton Building Society has this week announced two new additions to their existing range. Until now Skipton have limited their offerings to a variety of 2, 3 and 5 year fixed rate deals but their new mortgage products will track the base rate and offer more flexibility to customers.

The two new tracker mortgages will be offered with lower interest rates than the building society’s current range of fixed rate products, and are considered to be the perfect choice for investors who believe a rise in the base rate remains some time off. The details of the mortgages remain closely guarded though, even now that they are available from branches of Skipton and over the phone.

Kris Brewster, Skipton Building Society’s head of products commented on the news of the launch by saying, “We’re launching these new tracker rates in order to offer varied options, whether people prefer the certainty of a fixed rate or would rather benefit from a lower rate now, in the expectation that a base rate rise may be still some way off.”

The new product range from Skipton brings the total number of buy to let mortgage options available on the market up to 420 – still 80% less than during the boom of 2007 but considerably more than the crash of 2009.