Saffron Building Society has announced it is withdrawing all fixed rates across a number of its categories due to the current market conditions at 5pm today. To support brokers as much as possible, the society alerted its intermediary partners of this change over email just after 5pm yesterday, adhering to its minimum 24-hour notice policy for its trusted partners. The products being withdrawn include offering for first-time buyers, buy-to-let (BTL), JBSP and owner-occupier deals.

Paragon Bank has launched a range of limited edition BTL mortgages, including five-year fixed-rate deals with zero or flat fees and discounted standard variable rates. The firm revealed it has responded to broker feedback with the nil and flat-fee options to offer landlords more choice. Paragon’s nil fee five-year fixed rates are available for those purchasing or remortgaging single self-contained (SSC) properties, with rates starting at 6.35%, or HMOs at 6.60%. Alternatively, landlords can select a five-year fixed rate with a flat fee of £2,995, with rates starting at 6.05% for SSCs, or 6.30% for HMOs. The five-year fixed-rate deals are available at 65% loan-to-value (LTV) on loans up to £500,000.

Specialist lender Vida has also launched a new limited edition BTL product. The two-year product is available up to 75% LTV at an initial rate of 5.19%. Available on the lender’s Tier 48 offering, Vida said that first-time landlords will be welcomed and limited company ownership structures accepted. The product is available for loan sizes of £50,000 up to £1m and comes with a 3% product fee and it is available on individual units.

The Brightstar Group has launched an insurance brokerage, Solstar Insurance Brokers, which is offering a referral service for brokers and advice direct to clients. Operating as part of the Brightstar Group, alongside Brightstar Financial and Sirius Property Finance, Solstar will work on behalf of property owners and businesses to negotiate the best prices and cover with a large panel of insurance companies. Solstar will be headed by an experienced insurance broker, Solomon Tzouvanni, with more than 20 years in the role. The service offers a range of products covering BTL houses, HMOs, commercial shops with upper parts, industrial units, pubs, hotels, development sites, latent defects, premium bonds and more.

BTL specialist lender, Fleet Mortgages, has launched a range of two and five-year fixed rate mortgages in its three core ranges – standard, limited company and HMO/MUB. The lender’s two-year fixed-rate mortgage, available up to 75% LTV, is priced at 5.69% for standard and limited company borrowers, and 5.79% for HMO/MUB borrowers. Two-year fixes come with a 2% fee. Five-year fixes are available at three different LTV options at 65%, 70% and 75% LTV. The new range of fixes also includes green five-year fixed rate options – for those purchasing or remortgaging a property with an EPC level of C and above – available at 75% LTV.

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