According to a broker note, the lender said that its current range would be withdrawn at 10pm tonight, with its new range available from 8am tomorrow.
Its two-year fixed rates will rise by around 0.32 per cent, with three-year fixed rates going up by around 0.21 per cent and five-year fixed rates increasing by around 0.09 per cent.
Accord Mortgages said that for buy-to-let applications as a product cannot be selected at the decision in principle stage and brokers should use the rental calculator to input details of product required which will offer a more accurate maximum loan amount.
The lender added actual maximum lending would be determined when a full mortgage application is submitted.
Saffron Building Society to remove BTL deals
Saffron Building Society said that it would be withdrawing several products cross its self-employed, owner occupied and buy-to-let ranges from tomorrow.
The lender is removing two self-employed deals at 80 per cent loan to value (LTV), which includes its two-year fixed rate at 5.67 per cent and five-year fixed rate at 5.57 per cent.
Its two-year fixed rate at 80 per cent LTV at 4.69 per cent is being removed along with its two-year fixed retrofit product at the same LTV at 5.57 [er cent.
The lender is also taking down its two-year fixed rate limited company product at 75 per cent LTV at 5.49 per cent and its two-year fixed expat buy-to-let deal at 75 per cent TV at 5.89 per cent.
Brokers should secure products being withdrawn by submitting a full mortgage application with all fees paid by 5pm on 30 June.
The lender said decisions in principle should be submitted by midday to allow underwriters to review any referrals.
Saffron BS said that it would relaunch several products on 1 July, including five-year fixed rate across its buy-to-let range.
A Saffron For Intermediaries spokesperson said: “Saffron notified its broker partners yesterday that it will be withdrawing a number of self-employed, owner occupied and buy-to-let products on 30 June at 5pm due to changing market conditions.
“We’re pleased to have been able to give brokers 48 hours’ notice, while also ensuring our service levels remain protected. We will be relaunching rates shortly so that brokers continue to have a choice with Saffron.”
