Reduced UK Buy-To-Let mortgage rates announced

Skipton International has launched two new UK Buy-To-Let interest rates for loans of £750,000 or greater, giving preferential rates for larger UK Buy-To-Let purchases or re-mortgages.

Skipton International’s UK Buy-To-Let mortgages offer up to a 70% Loan to Value ratio.

The new rates are:

• 3 Year Base Rate Tracker - Rate 2.49% (4.6% APR)

• 5 Year Fixed Rate expiring 30/11/2025 - Rate 3.24% (4.6% APR)

These revised rates were launched on Friday 6 November 2020 and are already proving popular, along with the firm’s other UK Buy-To-Let mortgage products for lesser amounts borrowed.

With the UK government’s stamp duty holiday ending on 31 March 2021, anyone considering the purchase of a UK Buy-To-Let property will need to start the ball rolling soon if they are to take advantage of the opportunity.

In addition, a 2% foreign resident Stamp Duty Land Tax surcharge is due to come into effect on 1 April 2021.

If a property purchase was to complete prior to the 31 March 2021, overseas resident purchasers could generate as much as a £25,000 saving on a property purchased at £500,000.

Roger Hughes, Business Development Manager at Skipton International, said: “Since Rishi Sunak announced the Stamp Duty and Land Tax holiday, Skipton has seen an increase is applications which has led to our mortgage teams being kept incredibly busy. Purchase values have spanned all spectrums, but we are receiving a number of enquiries from potential Buy-To-Let owners for properties valued at £750,000 and above.

“This new discounted offering gives purchasers more choice and flexibility, and our mortgage team looks forward to receiving more enquiries.”

For information on what you may be able to borrow and the likely monthly repayments please visit Skipton’s easy to use online UK Buy to Let mortgage calculator or telephone the team on  +44 (0) 1481 730730.