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Saffron cuts a number of expat BTL product rates

Saffron Building Society has reduced rates on a number of its expat buy-to-let mortgage products.

Cuts include the 55 per cent LTV five-year fix being reduced from 3.97 per cent to 3.77 per cent, and the 75 per cent LTV five-year fix from 4.47 per cent to 4.17 per cent.

The products are for purchase or remortgage and include a 2.5 per cent arrangement fee.

Furthermore, the maximum loan value for the two offerings is £1m, with an ERC set at 3 per cent for the duration of the product term.

The lender has extended the mortgage term from 31 August 2024 to 30 November 2024.

Saffron Building Society head of mortgage sales Anita Arch says: “With over a million UK nationals reportedly living overseas, there is significant opportunity for intermediaries wanting to tap into the expat buy-to-let market.

“Although Brexit uncertainty is being touted as a potential factor to dampen this specific market, we have seen little evidence of this from our customers.

“The continuing strength in the UK rental market and the supply and demand factor adding value to property makes rental opportunities back at home an attractive investment for British expats living abroad.”

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