Saffron Building Society has returned to offering a full complement of mortgage products as it relaunches a limited company buy-to-let deal and cuts rates on several fixed products.
In August 2022, the mutual paused new applications, along with several other lenders, due to unmanageable volumes but began to reintroduce its mortgage products in October.
A limited company BTL five-year fix has been brought back at 5.47% for purchase and remortgage up to 75% LTV. First-time buyers and first-time landlords are accepted and there is no higher rental calculation for high-rate taxpayers.
The lender is also today launching two lower-rate first time buyer products. The five-year fixed-rate products are available with 90% and 95% LTV, and offer a 5.47% and 5.77% rate, respectively. Saffron has removed the arrangement fee and offers a free valuation.
In addition Saffron offers a joint borrower sole proprietor mortgage, allowing close family members to help a borrower buy a home. This product is available at 95% LTV for five years fixed at 5.77%.
Four lower-rate owner occupier products have also been launched. Two are five-year fixed-rate products with an LTV of 80% or 90% and rates of 5.07% and 5.77% respectively, alongside two two-year fixed-rate products with an LTV of 80% or 90% and rates of 5.37% and 5.77% respectively.
Finally, the green residential product rewards homeowners with a rate reduction if they undertake works that improve the energy efficiency of their home. The two-year fixed-rate mortgage is available today with an LTV of 80% and 5.37% rate.
Saffron head of business development Tony Hall says: “It’s a pleasure to kick off the new year with such a positive announcement to our intermediaries. Relaunching our Limited Company BTL product has been in the pipeline for some time and we are delighted to be returning to the market with a complete range of products across all of our categories. Our product portfolio has been created in light of the economic shift the country is witnessing and to be able to offer products that help people onto the property ladder is what continues to drive us with our FTB products.
