TSB and Saffron Review Buy to Let Mortgage Ranges

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Both TSB and Saffron Building Society have reviewed their buy to let mortgage ranges for buy to let property investors.

TSB has reduced some selected buy to let fixed and tracker remortgage rates by up to 0.25 per cent

The lender’s residential ranges also seen changes, with selected two-year and five-year fixed rate products between 90-95 per cent LTV seeing increases of up to 0.20 per cent.

However, five-year fixed rate house purchase products at 75-85 per cent LTV and five-year remortgage rates between 60-80 per cent LTV will see reductions of up to 5bps. Remortgage customers will also receive the option of £300 cashback or free legal fees.

Nick Smith, TSB’s head of mortgages, said: ‘We’ve made a number of changes to our mortgage range with the sole purpose of helping more people borrow well, our changes are aimed at helping landlords as well as homeowners with both small and large deposits.’

Meanwhile, Saffron Building Society has expanded its limited company buy to let finance range with the introduction of a new five-year fixed rate product, improved rates and reduced arrangement fees.

New products at Saffron include a two-year fixed rate product at 2.97 per cent and a five-year fixed rate product at 3.47 per cent, both available up to 75 per cent LTV.

The Saffron five-year fixed rate product has a 1 per cent arrangement fee and is available to buy to let investors for property purchase or remortgage.

Anita Arch, Saffron’s head of mortgage sales, commented: ‘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 per cent decrease in arrangement fees is worth consideration. Intermediaries have attractive new options to offer their landlord clients.’

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