One of the most active lenders for international investors in UK buy to let claims to have produced a market-leading mortgage offer.
Skipton International is cutting its rates for loans under £250,000 – the reduction of 0.50 per cent applies to both Fixed and Tracker mortgages.
The reductions come into effect this week and are aimed at British Expats and Foreign Nationals seeking UK BTL investment.
Additionally, the loan to value maximum has recently increased to 75 per cent and the firm has reintroduced the 10 per cent overpayment allowance on all UK BTL mortgages.
This follows the news that Skipton’s UK BTL remortgage applications are currently being offered on a fee-free basis, which equates to the applicant benefitting from no application, product or legal fees.
However, the client will be required to pay a valuation fee. The offer is available on any remortgage application.
Roger Hughes, business development manager at Skipton International, says: “With strong demand from overseas residents for UK buy to let mortgages, we are always looking for opportunities to make our mortgage proposition more attractive. This offer helps us be one of the most competitive players in the UK BTL market.”
This post has originally been featured in Letting Agent Today.