Here is the latest update from the Saffron Building Society. For details see their latest product information here. Lending criteria details are available here. Remember, you can access these products through our direct to lender mortgage club to get the benefits of payment on completion as well as out specialist mortgage support.
Saffron Announcement
Changes to Mortgage products – Wednesday 17 March 2021
We will be repricing our Ltd Company BTL products on Wednesday 17th March 2021 with an increase in rate and fee.
Product Name | Limited Company BTL | Limited Company BTL |
Product Category | Limited Co BTL | Limited Co BTL |
Code | DR0849 | DR0850 |
LTV | 75% | 75% |
Rate | 3.77% | 3.97% |
Rate Type | Fixed | Fixed |
Product Term | Fixed until 31.10.2023 (2 Year) | Fixed until 31.10.2026 (5 Year) |
Revert Rate | SVR | SVR |
Arrangement Fee | 1.50% | 1.50% |
Can Arr Fee be added | Yes | Yes |
Application Fee | £200 | £200 |
Incentive | None | None |
Min Loan | £30,000 | £30,000 |
Max Loan | £1,000,000 | £1,000,000 |
ERCs | 2% for 2 Years | 3% for 5 Years |
Overpayments | 10% per annum penalty free | 10% per annum penalty free |
Floor | 2% | 2% |
Min Mortgage Term | 5 Years | 5 Years |
Max Mortgage Term | 40 Years | 40 Years |
Repayment | Interest only or repayment | Interest only or repayment |
Purpose | Purchase or remortgage | Purchase or remortgage |
Portable | Yes | Yes |
Channel | Intermediary | Intermediary |
Exclusive | No | No |
APRC | 5.4% | 5.2% |
Products to be withdrawn
DR0827 Ltd Co BTL 2.87% fixed until 30.9.2023 75% LTV
DR0828 Ltd Co BTL 3.47% fixed until 30.9.2026 75% LTV
In order to secure the current products, we will require a full mortgage application submitted with fees paid by 5pm on Tuesday 16 March 2021.
Please amend your records accordingly.