Our everyday Buy-to-Let product range is available to first time landlords and existing landlords to purchase or re-mortgage a property.
Eligibility and applicant criteria
- Maximum Portfolio with Saffron of £3m (no external exposure limit)
- Regulated buy-to-let accepted – at some point, either now or in the future, you or an immediate family member* will occupy the premises or be a tenant.
*(The definition of an immediate family member includes: parents, grandparents, child, grandchild, brother or sister.)
Loan, Fee and product details
- Interest only or repayment
- Maximum loan size £3,000,000. Loans over this are priced on a bespoke basis and have restricted LTVs
- For portfolio landlords the maximum LTV INCLUDING fees is 75%
Property requirements
- Property must be let on an AST
- Minimum Property Value: £100,000
- Rental assessment is based on occupation by 1 family on an unfurnished let
- No HMOs or Limited Companies
Affordability and income criteria
- 5 Year Fixed Rates: Rental Cover 140% of pay rate
- Rental Cover on debt for debt re-mortgage cases 125% of pay rate
- For unexperienced landlords, at least one applicant must meet the minimum income requirement of £25,000 and a minimum of 12 months landlord experience
- No minimum income for experienced landlords - with a minimum of 12 months experience
- Rental assessment is based on occupation by 1 family on an unfurnished let