Mortgages

Saffron enters limited company buy-to-let market

The Society says the recent tax changes prompted it to introduce the product to its range.

Rozi Jones
|
24th April 2019
BTL buy to let
"Landlords could be negatively impacted by the current changes in tax law and receive a reduced income as a consequence."

Saffron Building Society has launched a limited company buy-to-let mortgage.

The Society says the recent tax changes which sparked a rise in limited company lending prompted it to introduce the product.

The new two-year fixed rate is available at 3.17% up to 75% LTV with a 2% arrangement fee.

Anita Arch, Saffron’s head of mortgage sales, commented: “With interest rates predicted to remain flat for the next 20 years, many investors continue to see buy-to-let as a solid method to receive a good return on investment.

"This said, landlords could be negatively impacted by the current changes in tax law and receive a reduced income as a consequence. Our new limited company buy-to-let mortgage creates a new option for intermediaries to consider and introduce to their customers to address this.”

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