Saffron Building Society continues to develop its specialist lending range for landlords with the introduction of a new 5 year fixed product, and improved rates and reduced arrangement fees on their 2 year Limited Company Buy-to-Let mortgages.
2.97% fixed until 28.02.2022 Limited Company BTL 75%
3.47% fixed until 31.01.2025 Limited Company BTL 75% – Rental cover 125% of pay rate.
This new product range continues to be popular with landlords wishing to maximise their returns against a backdrop of changes in tax liability introduced by Government.
The recent tax changes mean that some private landlords are better suited to running their investment properties through a limited company. As a result the need for mortgages to accommodate this situation is set to increase further and has inspired Saffron to meet the need with wider and more competitive options.
2 Year Fixed Rate Limited Company Buy to Let
Rate: 2.97% fixed until 28.02.2022 to 75% LTV
ERC: 2% for 2 years
5 Year Fixed Rate Limited Company Buy to Let
Rate: 3.47% fixed until 31.01.2025 to 75% LTV- Rental cover 125% of pay rate
ERC: 3% for 5 years
Loan: Min £30k, £1m Max
Arrangement fee: £1%
Overpayments: 10% per annum penalty free
Purpose: For landlords looking to purchase or re-mortgage investment property through a Limited Company.
Anita Arch, Saffron’s Head of Mortgage Sales comments: “For those landlords wanting to make the return on their investment more tax efficient through a limited company our lower rate 2 year fixed mortgage, the introduction of a new 5 year fixed product and a 1 % decrease in arrangement fees is worth consideration. Intermediaries have attractive new options to offer their landlord clients.”
Brokers with questions about the new, Limited Company Buy-to-Let mortgages can speak with one of Saffron’s Business Development Managers, who will be happy to help:
Holly Andrews: 01799 582885
Gemma Reynolds: 01799 582925