Saffron For Intermediaries has introduced a 75% loan-to-value tier on its expat mortgages and removed all country restrictions, including Australia.
The lender is also willing to consider first-time landlords and buyers no longer need to offer a UK mortgage history. The deals are offered at 3.69%, which is a three-year discount of 1.7% off the SVR with a 2.5% arrangement fee. Deals are offered from a minimum of £30,000 up to £1m over a maximum of 40 years.
On the buy-to-let side, Saffron has launched new fixed and discounted rates with rental cover on debt-to-debt remortgaging calculated at 125% of pay rate.
Anita Arch, head of mortgage sales at Saffron, said: “Our expat buy-to-let mortgage has always been incredibly popular and these enhancements make what was already a strong proposition even stronger.
“Our everyday buy-to-let products also offer a choice of highly competitive fixed and discounted rates and we are willing to accept first-time landlords.”
In June, Saffron launched a flexible drawdown interest-only self-build mortgage, replacing its existing product.
The mortgage is offered on a discounted rate of 4.20% for 24 months.
Borrowers can draw down funds as required and are no longer restricted by inflexible stage payments. Saffron will also accept applications from first-time buyers.
Victoria Hartley is contributing editor at Mortgage Solutions, Specialist Lending Solutions, Your Money and Your Mortgage at London-based publishing company AE3 Media.
She has an MA in Radio from Goldsmiths after gaining a 2:1 in a Comparative American Studies BA at Warwick University. She also holds a TEFL qualification and taught overseas in Mexico and Japan from 1994 to 1997.
Her role includes editorial oversight of the news, analysis and features, event content management and strategic and editorial consultancy for the AE3 Media group. She is an experienced video, broadcast and live-event host and regularly chairs web and podcast debates and interviews.
Multiple award nominations have resulted in two wins: Santander Media Awards, trade journalist of the year and Headlinemoney Awards, mortgage journalist of the year (B2B). Here is one of the award-winning pieces: https://www.mortgagesolutions.co.uk/news/2011/07/21/exclusive-tale-bailey-fraud-witness/
Previous roles include editorships of Mortgage Solutions, consumer title What Mortgage and trade title Credit Today as well as a stint freelancing for a variety of outlets including The Guardian and Which? Money.