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
Following a brief hiatus, we will be bringing back Expat BTL and BTL products on Wednesday 23rd September, the products will be as follows:
Expat BTL
– 4.27% Fixed until 31.01.2026 – 75% LTV
– 3.99% 2 year discount – 75% LTV
Expat BTL Criteria highlights
– Available to first time buyers, first time landlords
– No country restrictions (sanctioned countries not accepted)
– 5 year fixed rate stress test – 140% at pay rate
– Available to portfolio landlords
Everyday BTL
– 3.67% 5 Year Fixed until 28.02.2026 – 75% LTV
Everyday BTL criteria highlights
– 5 year fixed rate stress test – 140% at pay rate
– Debt for debt remortgages – 125% at pay rate
– Regulated BTL accepted (affordability based)
– Available to portfolio landlords
Expat BTL
Product Name | Expat BTL | Expat BTL |
Product Category | Expat BTL | Expat BTL |
Code | DR0798 | DR0799 |
LTV | 75% | 75% |
Rate | 4.27% | 3.99% (SVR-1.40%) |
Rate Type | Fixed | Discount |
Product Term | Until 31.1.2026 (5 Years) | 2 Years |
Revert Rate | SVR (5.39%) | SVR (5.39%) |
Arrangement Fee | 2.00% | £1,995 |
Application Fee | £200 | £200 |
Incentive | None | None |
Min Loan | £30,000 | £30,000 |
Max Loan | £1,000,000 | £1,000,000 |
ERCs | 3% for 5 Years | 2% for 2 Years |
Overpayments | 10% p.a. penalty free | 10% p.a. 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 |
APRC | 5.2% | 5.4% |
Product Criteria
- 5 Year Fixed Rates: Rental Cover 140% of pay rate
- Variable Rates: Rental cover 140% of either pay rate + 2% or 5.5%, whichever is higher
- Rental Cover on debt for debt re-mortgage cases 125% of pay rate. Fees may be added to the loan
- Property must be let on an AST
- Rental assessment is based on occupation by 1 family on an unfurnished let
- No HMOs or Limited Companies
- The applicant must have no adverse credit history in the past 3 years
- Must hold a UK bank account and mortgage direct debits must be paid from this account
- For portfolio landlords the maximum LTV INCLUDING fees is 75%
- Interest only or repayment
- Minimum income £25,000
- Maximum loan size £1,000,000. Loans over this are priced on a bespoke basis and have restricted LTV’s
- Regulated buy to let accepted from non-EEA countries – At some point, either now or in the future, you or an immediate family member will occupy the premises or be a tenant. (The definition of an immediate family member includes: parents, grandparents, child, grandchild, brother or sister.)
- We will condition the offer for nomination of a UK solicitor with a minimum of 2 partners who will act for the applicant, on whom the Society can serve notice in the event of default. This is to be arranged prior to the application of the mortgage
BTL
Product Name | BTL |
Product Category | BTL |
Code | DR0800 |
LTV | 75% |
Rate | 3.67% |
Rate Type | Fixed |
Product Term | Until 28.02.2026 (5 Years) |
Revert Rate | SVR (5.39%) |
Arrangement Fee | 1.00% |
Application Fee | £200 |
Incentive | None |
Min Loan | £30,000 |
Max Loan | £1,000,000 |
ERCs | 3% for 5 Years |
Overpayments | 10% p.a. penalty free |
Floor | 2% |
Min Mortgage Term | 5 Years |
Max Mortgage Term | 40 Years |
Repayment | Interest only or repayment |
Purpose | Purchase or remortgage |
Portable | Yes |
Channel | Intermediary |
APRC | 4.9% |
Product Criteria
- Rental Cover 140% of pay rate
- Rental Cover on debt for debt re-mortgage cases 125% of pay rate.
- Fees can be added to the loan for debt for debt remortgages
- Property must be let on an AST
- Rental assessment is based on occupation by 1 family on an unfurnished let
- No HMOs or Limited Companies
- Minimum income £25,000
- Maximum Portfolio with Saffron of £1.5m (no external exposure limit)
- Interest only or repayment
- Maximum loan size £1,000,000. Loans over this are priced on a bespoke basis and have restricted LTV’s
- For portfolio landlords the maximum LTV INCLUDING fees is 75%
- Regulated buy to let accepted – At some point, either now or in the future, you or an immediate family member will occupy the premises or be a tenant.