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New expat BTL range from Saffron

Saffron for Intermediaries has enhanced its specialist deals for both expat and everyday buy-to-let mortgages.

The lender has introduced a new 75% loan-to-value (LTV) band with a discounted rate on its expat buy-to-let mortgage and slightly amended the criteria so that borrowers no longer need to show a history of having a UK mortgage.

The product has a 3.69% discount rate available for three years, with a 2.5% arrangement fee and an early repayment charge (ERC) of 3%.

Saffron has no country restrictions and will consider first-time-buyers.

The lender has also introduced new fixed and discounted rates on its everyday buy-to-let range, which now has rental cover on debt-to-debt remortgaging at 125% of pay rate and is available to first-time landlords.

Borrowers will find that rates start from 2.49% for two years up to 75% LTV, rising to 2.77% fixed until 28 February 2023.

Anita Arch, head of mortgage sales at Saffron for Intermediaries, said: “Our ex-pat buy-to-let mortgage has always been incredibly popular and these enhancements make what was already a strong proposition even stronger.

“Having no country restrictions, dropping the requirement for borrowers to be able to show a UK mortgage history and being able to consider first-time-buyers, will be welcomed by expats wanting to invest in UK property.

“Our everyday buy-to-let products also offer a choice of highly competitive fixed and discounted rates and we are willing to accept first-time landlords.”

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