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Everyday Buy-to-Let

Please be aware all mortgage products were withdrawn at 5pm on Thursday 4 August, except for Self-Build. This is so we can focus on processing our existing applications as quickly as possible and restore our service levels to normal. System issues mean products are still visible on the portal, but applications received after the deadline will NOT be accepted. Please keep checking back for updates for when our new products will be launched.

Contact the Intermediary Support Team (01799 582 925 or ist@saffronbs.co.uk) with any queries, and thanks for your understanding at this busy time.

Our Buy-to-Let product is perfect for first time landlords and existing landlords to purchase or re-mortgage a property. 

Whatever your clients’ needs, they will also be guaranteed:

  • a decision made by a skilled and knowledgeable underwriter, rather than an automated credit scoring system
  • a fast and reliable service
  • If your client is creditworthy but has been struggling to find a mortgage to suit their specific needs, we may be able to help.

And if one of our existing mortgages doesn’t quite fit, then we may be able to tailor a mortgage to suit their precise needs.

Product Criteria

  • 5 Year Fixed Rates: Rental Cover 140% of pay rate
  • Rental Cover on debt for debt re-mortgage cases 125% of pay rate
  • Fees can be added to the loan for debt for debt remortgages
  • Property must be let on an AST
  • Rental assessment is based on occupation by 1 family on an unfurnished let
  • No HMOs or Limited Companies
  • Minimum income £25,000
  • Maximum Portfolio with Saffron of £1.5m (no external exposure limit)
  • Interest only or repayment
  • Maximum loan size £1,000,000

Loans over this are priced on a bespoke basis and have restricted LTV’s

  • Minimum term for this product must equal or exceed that of the fixed rate period
  • For portfolio landlords the maximum LTV INCLUDING fees is 75%
  • Regulated buy to let accepted - Atsome 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.)

* Overpayments of up to 10% per annum 

 

Buy-to-Let Light Refurb criteria 

  • If the amount of lending required is the maximum percentage of end value, state this clearly on application form
  • Rental Cover based on after works rental assessment
    • Rental cover 140% of either pay rate + 2% or 5.5%, whichever is higher
  • Evidence of savings to support 3 months mortgage payments whilst refurbishment works undertaken
  • Work must be completed within 3 months of completion and prior to letting out
  • Additional funds released after a satisfactory re-inspection and confirmation of improved end value and rental income
  • Property must be let on an AST
  • Rental assessment is based on occupation by 1 family on an unfurnished let
  • Limited Company accepted
  • LTV not to exceed figure stated at any stage
  • For portfolio landlords the maximum LTV INCLUDING fees is 75%
  • Interest only or repayment
  • Maximum loan size £1,000,000. Loans over this are priced on a bespoke basis and have restricted LTV’s
  • Regulated buy to let accepted – 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.)

Our Buy-to-Let products

Your home may be repossessed if you do not keep up payments on your mortgage