Saffron Building Society says it has extended the terms and reduced the rates and fees on its expat mortgages “in response to feedback from intermediaries”.
The lender said that its latest offering gave brokers the opportunity to provide “new options” to landlords looking to purchase or re-mortgage a buy to let property in the UK whilst living abroad.
The changes will see the following mortgage products become available: a 3.17% rate fixed until 31 March 2025 at 55% LTV; a 3.47% rate fixed until 30 March 2025 at 75% LTV; a 2.74% (SVR-2.9%) discount for two years at 55% LTV; and a 2.94% (SVR-2.7%) discount for two years at 75% LTV.
Saffron is also reducing its fees, with fixed rate charges dropping from 2.5% to 1%, and discounted rate fees reduced from 2.5% to a fixed fee of £1,299.
The lender estimated that the UK expat population rose to over five million last year, offering “good prospects” for the market. The building society considers mortgage applications from expats that are first-time buyers, as well as expats that are residing in any location around the world, including popular destinations such as Australia, New Zealand and the USA.
Saffron Building Society’s head of mortgage sales, Anita Arch, commented: “As a specialist mortgage provider we are delighted to bring this range of improved expat buy to let mortgages to the broker market, which is what our intermediaries have been asking for. Investment opportunities for those living abroad can be limited, so this latest option for landlords opens more doors to maximise income.”
Latest News
Perenna and the long-term fixed mortgage market
Content editor, Dan McGrath, spoke to head of product, proposition and distribution at Perenna, John Davison, to explore the long-term fixed mortgage market, the role that Perenna plays in this sector and the impact of the recent Autumn Budget
The role of the bridging market and technology usage in the industry
Content editor, Dan McGrath, sat down with chief operating officer at Black & White Bridging, Damien Druce, and head of development finance at Empire Global Finance, Pete Williams, to explore the role of the bridging sector, the role of AI across the industry and how the property market has fared in the Labour Government’s first year in office.
NEW BUILD IN FOCUS - NEW EPISODE OF THE MORTGAGE INSIDER PODCAST, OUT NOW
Figures from the National House-Building Council saw Q1 2025 register a 36% increase in new homes built across the UK compared with the same period last year, representing a striking development for the first-time buyer market. But with the higher cost of building, ongoing planning challenges and new and changing regulations, how sustainable is this growth? And what does it mean for brokers?
Does the North-South divide still exist in the UK housing market?
What do the most expensive parts of the country reveal about shifting demand? And why is the Manchester housing market now outperforming many southern counterparts?
In this episode of the Barclays Mortgage Insider Podcast, host Phil Spencer is joined by Lucian Cook, Head of Research at Savills, and Ross Jones, founder of Home Financial and Evolve Commercial Finance, to explore how regional trends are redefining the UK housing, mortgage and buy-to-let markets.
In this episode of the Barclays Mortgage Insider Podcast, host Phil Spencer is joined by Lucian Cook, Head of Research at Savills, and Ross Jones, founder of Home Financial and Evolve Commercial Finance, to explore how regional trends are redefining the UK housing, mortgage and buy-to-let markets.
© 2019 Perspective Publishing Privacy & Cookies
Recent Stories