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
Criteria update: More flexibility for your Buy-to-Let cases
Latest product changes from Saffron
On Wednesday 10 June, we’re making a change to our Limited Company Buy-to-Let range to give you greater flexibility when placing cases. This includes increasing the LTV available on a fixed rate product and offering more choice with fee options.
Changes at a glance
- Launch of new 70% LTV fixed rate Limited Company Buy-to-Let products:
- 5.47% 5-Year Fix with £2,500 fee
- 5.57% 5-Year Fix with 1.5% fee
Please note that the maximum LTV is inclusive of fees.
- These new products will replace the current 55% LTV product, which is being withdrawn from sale
Important information
The maximum LTV of 70% on our new fixed rate Limited Company Buy-to-Let products is inclusive of fees. This means that fees can be added to the loan if the total loan remains at or below 70%. If you require a higher LTV, our 2-Year Discount product is available at 75% LTV and allows fees to be added to the loan.
Full product details are available on our website.
Product withdrawals – important application deadlines
To secure a product being withdrawn, we require a full mortgage application to be submitted, with all fees paid, by 5pm on Tuesday 9th June.
To allow our underwriters the time to review any referrals, please submit DIPs by Midday Tuesday. This gives you the best chance of reaching the FMA submit stage by 5pm.
If you have already submitted an application with us and you want to switch to one of these new products, please add a note to the case with details of the new product you wish to change to.
Thank you for your continued support.