Saffron for Intermediaries is reintroducing its five-year fixed rate for limited company buy-to-let borrowers at up to 75% LTV, and cutting selected residential fixed rates by 0.20 percentage points, from 22 October.
The lender is also adding 55% LTV buy-to-let tiers, a residential discounted rate and Premier Income products for higher-income borrowers.
The limited company buy-to-let five-year fix returns at 6.27%, with a £2,500 arrangement fee. It sits alongside Saffron’s existing discounted-rate option at up to 75% LTV.
New five-year fixes at up to 55% LTV include:
- Limited company buy-to-let at 6.07%, with a £2,500 arrangement fee.
- Expat buy-to-let and expat limited company buy-to-let, both at 6.27%, with a £2,500 arrangement fee.
- Standard buy-to-let at 6.17%, with a £1,999 arrangement fee.
“For a landlord borrowing through a limited company, the amount of equity they need to put into a property is a significant part of the financing decision,” said Tony Hall, head of sales at Saffron for Intermediaries (pictured).
“Restoring our 75% LTV option gives brokers another route to consider for clients who want to retain more of their capital.”
For residential borrowers, Saffron is reducing four fixed rates by 0.20 percentage points. At 80% LTV, the two-year fix falls to 5.67% and the five-year fix to 5.77%, both with a £1,999 arrangement fee. At 90% LTV, the two-year and five-year fixes both fall to 6.07%, with a £999 arrangement fee. All four products include a free valuation.
Saffron is also launching a two-year residential discounted-rate mortgage at an initial rate of 4.99%, available up to 80% LTV with a £1,999 arrangement fee and a free valuation. The lender sets the variable rate three percentage points below its standard variable rate for the two years.
Premier Income products return with loans of up to £5m and no maximum loan-to-income cap for borrowers earning over £150,000, subject to an individual affordability assessment. The products target higher-income clients whose borrowing needs exceed standard income multiples. The two-year fix is priced at 6.37% and the five-year fix at 6.47%, both available up to 80% LTV with a £1,495 arrangement fee.
“The residential rate reductions and return of Premier Income also widen the options brokers can explore with us, whether their client needs a straightforward mortgage or a more individual assessment of their income,” he said.
“A client’s circumstances can span several product categories,” he added. “A landlord living overseas may also want to borrow through a limited company, for example. We encourage brokers to talk to us about cases involving multiple complexities, so we can consider the circumstances together and establish how we might help.”
