Saffron Building Society has improved its range of expat buy-to-let mortgages by introducing reduced rates and fees and extending its terms.
Fixed rate fees have been reduced from 2.5% to 1%, and discounted rate fees cut from 2.5% to a fixed fee of £1,299.
New rates for landlords seeking to acquire or remortgage a buy-to-let property in the UK whilst living abroad also include a reduced term on Saffron’s discount rate of 2.74% at 55% loan-to-value (LTV), from three years to two years.
There is also a new 3.17% product fixed until 30th March 2025 at 75% LTV, as well as a 75% LTV deal discount for two years at 2.94%.
Mortgage offers will be considered for expats residing in any location around the world, with each application individually assessed by an underwriter to enable increased eligibility with a view to a positive outcome wherever possible.
Anita Arch, head of mortgage sales at Saffron Building Society, commented: “As a specialist mortgage provider we are delighted to bring this range of improved expat buy-to-let mortgages to the broker market, which is what our intermediaries have been asking for.
“Investment opportunities for those living abroad can be limited, this latest option for landlords opens more doors to maximise income.”