Skipton extends maximum term of UK buy to let mortgages

Skipton International has increased the flexibility of its UK mortgages by extending the maximum mortgage term to 35 years. This news follows a period of change to its lending terms which has seen the Channel Island bank include studio apartments within its property criteria, as well as offering mortgages to UK expatriates and non nationals resident overseas.

Customers can now benefit from an additional five years on the maximum mortgage term, traditionally the market offers a maximum term of 25-30 years. Applicants will need to be 69 years of age or younger at the time of application and the facility must be repaid by the time the customer reaches the age of 85. Additionally, they must have a UK bank account in place.

Roger Hughes, Business Development Manager at Skipton International said: “We have spent considerable time this year analysing our UK buy to let offering and looking for ways in which we can be more inclusive. These recent changes have prompted a great response from those looking to buy in the UK and we will continue to enrich our proposition to enable more people resident overseas to purchase investment property.”

Changes to its UK buy to let mortgage proposition has resulted in a recent surge of business.

Skipton International offers competitive UK buy to let mortgages on property in England, Wales and Scotland, providing fast turnaround on enquires and an Agreement in-Principal over the phone. The bank offer mortgage and remortgage packages and also accepts applications from self-employed customers. For an indication of what you may be able to borrow please visit Skipton’s online mortgage calculator.