We continue to listen to broker feedback and react, where possible, to make things easier for you, which is why we’re delighted to announce some fantastic news to support your Buy to Let (BTL) clients:
- We now lend on BTL New Build flats, up to 75% LTV
- and landlords with 5 year fixed products or longer will now be stressed at a rate of 4.5%, reduced from 5%.
Tony Field, Sales Director at Dynamo had the following to say:
“It’s an exciting time to be working with Skipton as they push forward with new Buy to Let criteria. The introduction of lending on New Build flats is a very positive move that will undoubtedly be broadly welcomed by investors in the sector. With stress rate calculations also decreasing and greater flexibility being allowed on terms, Skipton are clearly demonstrating their ongoing support of the landlord community and the wider Buy to Let market.”
Further criteria change
We’ve also made the following change to our BTL criteria:
- Minimum BTL property value has increased from £50,000 to £75,000.
Learn more about our lending criteria
“At Skipton Building Society for Intermediaries we regularly seek feedback from brokers and we’ve seen a real shift in that feedback recently, the Buy to Let market is changing and the topic of more energy efficient properties is becoming a regular conversation point with landlords. It’s therefore really exciting that not only are we entering the New Build flat market for Buy to Let but we are keeping things simple by lending up to 75% on them too. This is in line with our maximum LTV’s on Buy to Lets and is our way of making things easier for you.”
- John Scrivens, Regional Manager at Skipton Building Society for Intermediaries.
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