Saffron For Intermediaries has improved its specialist deals for ex-pat borrowers and ‘everyday’ buy-to-let mortgages.

Changes include the following:

Expat buy-to-let:
A new 75% LTV band has been introduced with a discounted rate and borrowers no longer need to show a history of having a UK mortgage. Saffron has no country restrictions, including Australia and will consider first-time-buyers.

It is priced at 3.69% discounted (SVR – 1.7%) for three years up to 75% LTV and comes with an arrangement fee of 2.5%.

The Early Repayment Charge (ERC) is 3% for the period of the discount. The minimum loan amount is £30,000, maximum £1m over periods up to 40 years.

Everyday buy-to-let:
New fixed and discounted rates have introduced; rental cover on debt-to-debt remortgaging is only 125% of pay rate and the lender will accept first-time landlords.

The rates are 2.49% discount (SVR – 2.9%) for two years up to 75% LTV or 2.77% fixed until 28/02/23 up to 75% LTV.

There is an arrangement fee of 2% and the ERC are 2% for two years for the discounted loan, 3% until 28/02/23 for the fixed rate mortgage.

The minimum loan amount is £30,000, maximum £1m over periods up to 40 years.

Anita Arch, head of mortgage sales at the Saffron, said: “Our ex-pat buy-to-let mortgage has always been incredibly popular and these enhancements make what was already a strong proposition even stronger.

“Having no country restrictions, dropping the requirement for borrowers to be able to show a UK mortgage history and being able to consider first-time-buyers, will be welcomed developments by expats wanting to invest in UK property.

“Our everyday buy-to-let products also offer a choice of highly competitive fixed and discounted rates and we are willing to accept first-time landlords.”