Saffron cuts first-time buyer, self-employed and buy-to-let mortgage rates

Saffron for Intermediaries has reduced selected mortgage rates by 0.20%, including self-employed fixes up to 90% LTV, first-time buyer rates at 95% LTV, alongside standard, limited company and expat buy-to-let mortgages.

Across both the expat buy-to-let and expat limited company buy-to-let 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 buy-to-let 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 buy-to-let five-year fix at 75% LTV has reduced to 6.07%, with a £1,999 arrangement fee.

Saffron has also reduced all two and five-year fixed rates in its self-employed range, with rates now starting from 6.07% and 5.97% respectively, both at 80% LTV. The range extends to 90% LTV and carries a £999 arrangement fee.

First-time buyers with a 5% deposit can now access a two-year fix at 6.77% or a five-year fix at 6.37%. Both products come with no arrangement fee and include a free valuation.

Tony Hall, head of business development at Saffron for Intermediaries, said: “The Budget has given landlords another reason to review their costs and investment plans, so these rate reductions come at a useful time. Brokers tell us their clients love the certainty of our flat arrangement fees. On larger loans in particular, a flat fee can make a substantial difference compared with a fee calculated as a percentage of the borrowing.

“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.”