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Saffron slashes fee on B2L deal by 1%

Saffron Building Society has slashed the fee on its buy-to-let two-year fixed rate exclusive with Brightstar Financial from 3% to 2%.

This mortgage has a maximum LTV of 80% and the added incentives of refunded valuation fees and free basic legal work on remortgages.

Rob Jupp, managing director at Brightstar, says: “Feedback from our broker partners loved the loan to value at 80%, loved the rental calculation, but felt the completion fee was too high.

“Our friends from The Saffron listened to our feedback and have made this really positive change. ”

John Eastgate, sales and marketing director at Saffron, says: “Our common-sense attitude to lending allows us to support a wide range of mortgages and we think that our personal underwriting approach differentiates us from the mass market.”


MS leader: HSBC plan has a silver lining

It’s hardly surprising that HSBC is the bank brokers love to hate. The fact it will not pay brokers a proc fee for introducing a mortgage makes it a threat the broking industry cannot avoid.


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