Saffron Building Society has announced that it has reduced its rates and fees as well as extending the terms on its range of expat buy-to-let mortgages.
According to the lender, the new rates start from 3.17% up to 55% LTV and 3.47% up to 75% LTV, both fixed until March 2025. Saffron's two-year discount products have been reduced to 2.74% at 55% LTV and 2.94% at 75% LTV.
Saffron has also reduced fees across its expat buy-to-let range. Fixed rate fees have fallen from 2.5% to 1% and discounted rate fees from 2.5% to a fixed fee of £1,299. Saffron's expat buy-to-let range is available to first-time buyers and no UK mortgage history is required.
Mortgage offers will be considered for expats residing in any location around the world, including Australia, New Zealand and the USA.
Anita Arch, head of mortgage sales at Saffron Building Society, commented: “As a specialist mortgage provider we are delighted to bring this range of improved expat buy-to-let mortgages to the broker market, which is what our intermediaries have been asking for. Investment opportunities for those living abroad can be limited, this latest option for landlords opens more doors to maximise income.”