According to the lender, the strategic decision was made following the Budget. However, the society fully expects to return to the buy-to-let market later this year.
Charlie Townsend, head of insight at Saffron Building Society, said: “Our buy-to-let products were very successful and performed so well for us in quarter one.
“We have therefore adjusted our focus on to first-time buyer products. As such we have launched some newly refreshed products aimed at the first-time buyer market.
“These market-leading products include lower interest, smaller deposit mortgages, alongside the family support and joint borrower sole proprietor mortgage. We fully expect to be back in the buy-to-let market later in the year.”
