You are here: Home - News -

Saffron BS launches 90 per cent LTVs and returns to limited company lending

by:
  • 27/01/2021
  • 0
Saffron BS launches 90 per cent LTVs and returns to limited company lending
Saffron Building Society has added 90 per cent loan to value (LTV) mortgages to its range and re-entered the limited company buy-to-let lending space.

 

The products will be available through intermediaries only from today and include two mortgages for those with a 10 per cent deposit. 

There is a two-year fix with a rate of 3.77 per cent and a five-year fix at 4.07 per cent for first-time buyers. Gifted deposits are accepted on these products and the society has removed the arrangement fee and added the incentive of free valuation. 

For those remortgaging and home movers, there are two mortgages at 90 per cent LTV including a two-year fixed at 3.57 per cent and a five-year fix at 3.77 per cent with free valuation. 

The mutual’s limited company buy-to-let relaunch follows its return to buy-to-let lending late last year. The new products include two-year and five-year fixed rate mortgages at 2.87 per cent and 3.47 per cent respectively. 

The products are available at 75 per cent LTV for limited company purchases and remortgages. 

Tony Hall, interim head of mortgage sales, said: “It is a pleasure to begin the new year with a tranche of new and updated products that not only expand our offering to intermediaries but have wider appeal to more clients as the market continues to shift in light of the pandemic.  

“Our successful return to the 90 per cent LTV first-time buyer market in 2020 gave us the insight we needed to create a product that would offer those struggling with upfront finances a helping hand on to the property ladder.”  

He added: “Having re-entered the residential buy-to-let market at the end of 2020, we had always intended to return with a product for limited companies, and following feedback during our webinars with brokers, we decided now was the right time.”

 

There are 0 Comment(s)

You may also be interested in

Read previous post:
High LTV mortgage sales fell by a third last year – Quilter

There were 35 per cent fewer mortgage sales within the 90-95 per cent loan to value (LTV) tier from January...

Close