"We are delighted to be returning to the market with a complete range of products across all of our categories."
Saffron Building Society has today announced its complete return to market with a final product relaunch and a range of updated products.
Its limited company buy-to-let five-year fixed rate mortgage is back on the market following its hiatus since last summer. Its return means that the Society is offering a full range of products across all its categories.
The new limited company product is available at 5.47% for purchases and remortgages up to 75%. Similar to all Saffron buy-to-let products, first-time buyers and first-time landlords are accepted and there is no higher rental calculation for high-rate taxpayers.
Saffron has also announced rate reductions across a number of its fixed-rate mortgage products.
New five-year fixed rate first-time buyer products have launched at 90% and 95% LTV with rates of 5.47% and 5.77%, respectively. In addition, Saffron has removed the arrangement fee and offers 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. The 95% LTV product is even available on new build houses and Saffron accepts new build incentives up to 5% (provided the borrower puts down a 5% deposit).
A joint borrower sole proprietor product has also launched at 5.77% up to 95% LTV, fixed for five years. The maximum term is calculated based on the borrower’s age, not the supporter’s, so there is a potential 40-year term available.
In addition, Saffron has launched four lower-rate owner occupier products. Five-year fixed-rate products are available at 5.07% at 80% LTV and 5.77% at 90% LTV. Two-year fixed-rate products with at the same LTVs start at 5.37% and 5.77% respectively.
Finally, a two-year fixed-rate green residential mortgage is available from today at 5.37% up to 80% LTV.
Tony Hall, head of business development, commented: “It’s a pleasure to kick off the new year with such a positive announcement to our intermediaries. Relaunching our limited company buy-to-let product has been in the pipeline for some time and we are delighted to be returning to the market with a complete range of products across all of our categories. Our product portfolio has been created in light of the economic shift the country is witnessing and to be able to offer products that help people onto the property ladder is what continues to drive us with our first-time buyer products.
“I would like to personally thank brokers for their support over the last 12 months and we are entering 2023 with lots of exciting plans to help the industry during what will be another challenging year.”
