Anita Arch

Saffron enhances limited company BTL mortgage range

Saffron Building Society has enhanced its limited company BTL mortgage range for landlords.

A new five-year fixed rate product has been introduced by the building society in addition to improved rates and reduced arrangement fees on its two-year limited company BTL mortgages.

The new limited company BTL product range includes a 2.97% two-year fixed rate until 28th February 2022 at 75% LTV, and a 3.47% five-year fixed rate until 31st January 2025 at 75% LTV and rental cover at 125% of the pay rate.

The range — which is aimed at landlords looking to purchase or remortgage investment property through a limited company — has a minimum loan value of £30,000 and a maximum of £1m.

The arrangement fee is 1%, while for overpayments, there’s a penalty fee of 10% per annum.

“For those landlords wanting to make the return on their investment more tax efficient through a limited company, our lower rate two-year fixed mortgage, the introduction of a new five-year fixed product and a 1% decrease in arrangement fees is worth consideration,” said Anita Arch, head of mortgage sales at Saffron (pictured above).

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