In its BTL range, the lender has brought out a product for expat landlords that has a fixed £2,500 arrangement fee. The five-year fixed rate is at 75 per cent loan to value (LTV) and is priced at 5.87 per cent.
This will sit alongside the lender’s percentage fee off product and offers more choice to expat BTL applicants.
Saffron Building Society has changed rates – its five-year fixed rate at 75 per cent LTV has fallen from 0.6 per cent to 5.27 per cent with a £1,999 fee.
Its five-year fixed rate expat deal at 75 per cent LTV has fallen from 0.4 per cent to 5.87 per cent. It comes with a 1.5 per cent arrangement fee.
The company’s five-year fixed rate limited company deal has decreased by 0.6 per cent to 5.27 per cent.
Within its self-employed range, its two-year fixed rate at 80 per cent LTV will go down by 0.1 per cent to 5.97 per cent, and its five-year fixed rate at 90 per cent LTV has fallen by the same amount to 6.27 per cent. It has a £999 fee.
On the contractor side, its five-year fixed rate at 80 per cent LTV has gone down by 0.2 per cent to 5.17 per cent with a £999 fee.
Regarding its first-time buyer range, reductions of up to 0.6 per cent have been made. This includes its five-year fixed rate at 90 per cent LTV, which has decreased to 5.27 per cent with no fee.
The firm has also cut its owner occupier rates by around 0.8 per cent and released a green residential product.
An example includes its five-year fixed rate at 90 per cent LTV, which has gone down from 0.8 per cent to 4.97 per cent with a £999 fee.
The lender has brought out a two-year fixed rate at 80 per cent LTV priced at 5.67 per cent with a £999 fee.
Tony Hall (pictured), head of business development at Saffron for Intermediaries, said: “So far in 2024, we are seeing a more diverse range of borrower profiles than ever before, and at Saffron, we are working hard to adapt and ensure that our product range reflects this variety.
“While keeping our rates as competitive as possible, we are also proud to offer products that can cater to borrowers that other lenders might shy away from. We look forward to working with brokers to help their customers take advantage of today’s new rates and products.”
In February, Saffron Building Society signed the Mortgage Industry Mental Health Charter (MIMHC).
