Saffron launches 5-year BTL fixed rates

The first is a 4.87% 5-year fixed rate to 31/08/19 on standard buy-to-let mortgages, and the second is a 5.07% 5-year fixed rate to 31/08/19 on buy-to-let light refurbishment mortgages.

Both deals are available up to 80% LTV, with arrangement fees of £995 for loans up to £500K and £1,995 for loans up to £1 million. Loans above £1 million available by referral. There is an early repayment charge of 3% during the fixed rate period (overpayments of up to 10% per annum are allowed without penalty).

Brokers can access Saffron’s Special Situations and Everyday Situations mortgages via a panel of distributors, which includes 3mc, AToM, Brightstar, Complete FS, L&G Network, Platinum Options and tbmc.

Sarah Howe, Chief Marketing Officer at Saffron Building Society, said:

“Landlords are well aware that the current low interest rate environment isn’t going to last forever. Our two new fixed rate options give them the option to fix their monthly mortgage payments for the next five years, which will help enormously with cashflow projections and budgeting."