Brilliant Solutions

Saffron BS Update

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.
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