Saffron enhances ex-pat and everyday BTL range

Saffron for Intermediaries has made improvements to its buy-to-let mortgages for every day and ex-pat borrowers.

A new 75 per cent LTV band has been introduced for expat BTL borrowers with a discounted rate of 3.69 per cent for three years and borrowers no longer need to show a history of having a UK mortgage. No country restrictions apply and first-time buyers will be considered.

An arrangement fee of 2.5 per cent applies and an early arrangement fee of 3 per cent will be applicable for the period of the discount.

Saffron head of mortgage sales Anita Arch says: “Our ex-pat buy-to-let mortgage has always been incredibly popular and these enhancements make what was already a strong proposition even stronger. Having no country restrictions, dropping the requirement for borrowers to be able to show a UK mortgage history and being able to consider first-time-buyers, will be welcomed developments by expats wanting to invest in UK property.

On everyday BTL, Saffron has introduced the following:

Rates: 2.49% discount (SVR – 2.9%) for 2 years up to 75% LTV,

or 2.77% fixed until 28/02/23 up to 75% LTV                                                         

Arrangement fee: 2%

ERC: 2% for 2 years for the discounted loan, 3% until 28/02/23 for the fixed rate mortgage.

Terms: min loan £30K, Max £1m over periods up to 40 years