SAFFRON FOR INTERMEDIARIES LAUNCHES 5-YEAR FIXED RATE BUY-TO-LET DEALS
31 March 2014
Saffron For Intermediaries, the dedicated broker channel of Saffron Building Society, has launched two 5-year fixed rate options on its buy-to-let mortgages.
The new deals include the following:
· 4.87% 5-year fixed rate to 31/08/19 on standard buy-to-let mortgages.
· 5.07% 5-year fixed rate to 31/08/19 on buy-to-let light refurbishment mortgages.
· Both deals available up to 80% LTV.
· Arrangement fee of £995 for loans up to £500K and £1,995 for loans up to £1 million. Loans above £1 million available by referral.
· Early repayment charge of 3% during the fixed rate period (overpayments of up to 10% per annum are allowed without penalty).
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.”
Saffron Building Society doesn’t use credit scoring, preferring instead to let skilled underwriters assess each application on its own merits.
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.
Full product and criteria details, including a downloadable Product Guide, are available at: www.saffronforintermediaries.co.uk
**ends**
Journalists requiring further information can contact:
Josh Cooper, Cooper Consultants Ltd Office: 01654 767711
josh@cooper-consultants.co.uk Mobile: 07768 355265
NOTES TO EDITORS:
About Saffron Building Society
Saffron Building Society was established in 1849 by the Reverend John Marten, who was Minister of the Hill Street Baptist Church and Manager of the local gas company. From such humble beginnings the mutual Society has successfully grown to manage assets of over £1 billion.
Saffron Building Society is the largest regional building society serving the East of England, with 12 branches and 7 agencies. The society has served the needs of the local community for 163 years and is committed to doing so in the future.
A mutual organisation, Saffron Building Society is owned by its 90,000 members and exists solely for their benefit.
The Society employs 150 staff across East Anglia, who understand local customers’ needs and provide value for money products backed-up by a professional and reliable service.
Saffron For Intermediaries is the Society’s dedicated broker lending channel. Further information about the products and services available for brokers can be found at: www.saffronforintermediaries.co.uk
______________
Cooper Consultants Ltd
Glascoed
Balkan Hill
Aberdyfi
Gwynedd
LL35 0LB
Telephone: 01654 767711
Josh mobile: 07768 355265
Rhian mobile: 07739 680044
Josh e-mail: josh@cooper-consultants.co.uk
Rhian e-mail: rhian@cooper-consultants.co.uk
Company registered in England & Wales No: 04855692
