Saffron cuts rates by up to 20bps

Saffron for Intermediaries has cut rates across its BTL range by up to 20bps, including products for expat and limited-company landlords.

Effective today, across both the expat BTL and expat limited company BTL ranges, five-year fixes have reduced to 6.07% at 55% LTV and 6.17% at 75% LTV.

All four products carry a flat £2,500 arrangement fee.

For UK-based landlords, limited company BTL five-year fixes are now available at 5.97% up to 70% LTV and 6.07% up to 75% LTV, both with a £2,500 arrangement fee.

The standard BTL five-year fix at 75% LTV has been reduced to 6.07%, with a £1,999 arrangement fee.

Elsewhere, Saffron has also reduced rates for self-employed borrowers and first-time buyers.

“The Budget has given landlords another reason to review their costs and investment plans, so these rate reductions come at a useful time,” said Tony Hall, head of business development at Saffron for Intermediaries (pictured above).

“Brokers tell us their clients love the certainty of our flat arrangement fees.

“These cuts also reach borrowers who can benefit from a more individual approach, whether that’s a self-employed applicant with fluctuating earnings or an expat landlord arranging finance from overseas.

“For brokers, the benefit is being able to offer lower rates alongside an individual assessment, with a team they can talk to about the details that could make a difference to the application.”