"It is a pleasure to begin the new year with a tranche of new and updated products that not only expand our offering to intermediaries but have wider appeal to more clients"
Having re-entered the residential buy-to-let market in late 2020, Saffron is re-launching two new limited company buy-to-let products. The two-year and five-year fixed rate mortgages, 2.87% and 3.47% respectively, are available up to 75% LTV for purchase and remortgage. In addition, Saffron is reducing the rate on its everyday buy-to-let five-year fixed rate to 3.47%. All three products are also being offered with a reduced arrangement fee for a limited time.
The Society is also launching two new first-time buyer products at 90% LTV. The two-year and five-year fixed rate products are available at 3.77% and 4.07% rate, respectively.
In addition, the society has removed the arrangement fee and is offering a free valuation to support those struggling with upfront costs. The first-time buyer products also benefit from the acceptance of gifted deposits from a close family member.
Saffron is also launching two new 90% LTV products for purchase and remortgage. A two-year fixed rate is available at 3.57% and a five-year fix at 3.77%, both with a free valuation.
Tony Hall, interim head of mortgage sales, commented: “It is a pleasure to begin the new year with a tranche of new and updated products that not only expand our offering to intermediaries but have wider appeal to more clients as the market continues to shift in light of the pandemic. Our successful return to the 90% LTV first-time buyer market in 2020 gave us the insight we needed to create a product that would offer those struggling with upfront finances a helping-hand on to the property ladder.
"Having re-entered the residential buy-to-let market at the end of 2020, we had always intended to return with a product for limited companies, and following feedback during our webinars with brokers, we decided now was the right time. These product launches continue to prove Saffron’s commitment to our network of brokers and ensure we remain competitive as a specialist lender too.”
