Saffron For Intermediaries, the dedicated broker channel of Saffron Building Society, has launched two 5-year fixed rate options on its buy-to-let mortgages.
The new deals include the following:
• 4.87% 5-year fixed rate to 31/08/19 on standard buy-to-let mortgages.
• 5.07% 5-year fixed rate to 31/08/19 on buy-to-let light refurbishment mortgages.
• Both deals available up to 80% LTV.
• Arrangement fee of £995 for loans up to £500K and £1,995 for loans up to £1 million. Loans above £1 million available by referral.
• Early repayment charge of 3% during the fixed rate period (overpayments of up to 10% are allowed without penalty).
Sarah Howe, Chief Marketing Officer at Saffron Building Society, said:
“Landlords are well aware that the current low interest rate environment isn’t going to last forever. Our two new fixed rate options give them the option to fix their monthly mortgage payments for the next five years, which will help enormously with cashflow projections and budgeting.”
Saffron Building Society doesn’t use credit scoring, preferring instead to let skilled underwriters assess each application on its own merits.
Brokers can access Saffron’s Special Situations and Everyday Situations mortgages via a panel of distributors which includes 3mc, AToM, Brightstar, Complete FS, L&G Network, Platinum Options and tbmc.
Full product and criteria details, including a downloadable Product Guide, are available at: www.saffronforintermediaries.co.uk