Our everyday Buy-to-Let product range is available to first time landlords and existing landlords to purchase or re-mortgage a property.
Who is this product suitable for?
- First Time Buyers
- First Time Landlords
- Existing landlords looking to purchase a new property or remortgage an existing property
- Portfolio Landlords
- Regulated Buy-To-Let landlords - 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 & 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%
- Maximum Portfolio with Saffron of £3m (no external exposure limit)
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
- No minimum income for experienced landlords (minimum of 12 months experience)
- If the borrowers are inexperienced landlords, at least one applicant must meet the minimum income requirement of £25,000
Property Requirements
- Property must be let on an APT
- Rental assessment is based on occupation by one family on an unfurnished let
- Minimum energy performance rating of E on an Energy Performance Certificate (EPC)
- No HMOs or Limited Companies accepted on this range. Please see our dedicated HMO and Limited Company pages for details