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Saffron cuts rates and fees on expat BTL range

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  • 07/10/2019
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Saffron Building Society reduced the rates and fees of its expat buy-to-let mortgage range.

 

Interest rates across the range have been cut.

The specialist lender has also reduced fixed-rate fees from 2.5 per cent to one per cent. On discounted deals, fees have been cut from 2.5 per cent to a fixed fee of £1,299.

On its 55 per cent loan to value (LTV) discounted range the term of the products has been reduced from three to two years.

The society said the changes had been made in response to feedback from intermediaries.

Anita Arch (pictured), head of mortgage sales at Saffron Building Society, added: “Investment opportunities for those living abroad can be limited. This latest option for landlords opens more doors to maximise income.”

Mortgage offers will be considered for expats living in any location around the world.

Deals for first-time buyers are available while regulated buy to let is accepted in countries outside the European Economic Area (EEA). The EEA includes EU countries and Iceland, Liechtenstein and Norway.

No UK mortgage history is required and rental cover must be 140 per cent of the pay rate.

Rental cover on debt for remortgage cases must be 125 per cent of pay rate.

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