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Saffron BS re-enters BTL and Precise cuts rates – round-up

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  • 23/09/2020
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Saffron BS re-enters BTL and Precise cuts rates – round-up
Saffron Building Society has stepped back into the buy-to-let market after withdrawing its range in March to focus on first-time buyers.

 

This relaunch includes two expat products; a five-year fix at 75 per cent loan to value (LTV) with a rate of 4.27 per cent and a two-year discount buy to let mortgage priced at 3.99 per cent at 75 per cent LTV with a £1,995 fee. 

The domestic buy-to-let product is a five-year fix at 75 per cent LTV priced at 3.67 per cent.  

Tony Hall, interim head of mortgage sales at Saffron Building Society, said: “We are so pleased to re-enter the buy-to-let market again after a brief break. It has been a big priority for us to get these products back to market so that borrowers can take advantage of the stamp duty holiday which is due to terminate at the end of March.  

The business development manager team at Saffron are pleased to start accepting new applications from 23 September.” 

 

Precise Mortgages 

Precise Mortgages has reduced rates on its buy-to-let mortgages by up to 0.4 per cent and launched help to buy remortgage products. 

Rates on its buy-to-let range are now 3.14 per cent for a two-year fixed and 3.49 per cent for a five-year fixed available to individual and limited company borrowers. 

For HMOs and limited company HMOs, the two-year fix is priced at 3.44 per cent and the five-year equivalent is 3.74 per cent.  

All these products are available up to 75 per cent LTV. 

The Help to Buy remortgage products are available to borrowers with impaired credit profiles. There is no product fee and Precise offers a valuation fee refund.  

These remortgage deals are available up to 75 per cent LTV and include a two-year fixed at 4.24 per cent and a five-year fixed at 4.34 per cent. 

Adrian Moloney, OneSavings Bank group sales director, said: “It’s vital that we support the market in these challenging times, and we believe these rate reductions across our range of buy-to-let mortgages will help brokers in placing more of their customers’ cases. 

“As one of the first specialist lenders to enter the Help to Buy market, we remain as committed to the scheme as we always have been, and our new Help to Buy remortgage products will help more first-time buyers meet their aspirations of becoming established homeowners.” 

 

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