Skipton Building Society & Axis Bank launch new products

Skipton Building Society has refreshed its two and five-year additional borrowing fixed rate products for buy to let borrowers, while Axis Bank is bringing a new two-year variable buy to let deal to the market.

Skipton is also offering its buy to let customers additional borrowing at 4.49% (4.7%APR) on a two-year fixed rate 75% LTV mortgage and at 5.19% (4.9%APR) on a five-year fixed rate 75% LTV mortgage.

No arrangement fees apply to these products.

Kris Brewster, head of products, Skipton Building Society said: “We have made additional borrowing even more attractive by lowering rates on our range of fixed rate products.”

On Monday Axis Bank UK Ltd is launching a new two-year variable rate product range.

The new product rate applies to 75% LTV mortgages, where the loan value limit is set at £500,000, as well as to 65% LTV mortgages, for loans above £500,000.

The new rate applies to both Axis’s standard and specialist ranges and the products have no early redemption charges, although they carry an arrangement fee of 1.5%.

The range is available, for both purchase and remortgage, to professional landlords who have a minimum of three existing properties and a maximum of five properties.

The minimum loan size for these products is £75,000 up to a maximum of £1,000,000.

The Bank says that the products have been designed to provide flexibility for landlords, as the various changes within the buy to let market take effect.

Axis Bank can only be accessed by Mortgages for Business and a select handful of others.  


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