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Saffron BS has returned to the buy-to-let mortgage market with a new tracker year and cracking 5 yr fixed rate mortgage.The 5 year mortgage has it rate fixed at 5.98% should be of particular interest to landlords because it is the only one according to Property Hawks mortgage search which currently offers 75% LTV on a 5 year fix.
It also has a very low flat rate application fee of £499.
One downside for this buy-to-let mortgage product is that it's not available for first time buyers.
The mortgage has a 4 star rating from emoneyfacts and is also Moneyfacts 'BEST BUY'.
More details:
NEW VARIABLE TRACKER RATE MORTGAGE available to second time buyers & remortgage: 4.59% for 2 years, max 75%, fee 2.5% of advance, BBR + 4.09% for 2 years. NEW FIXED RATE MORTGAGE available to second time buyers & remortgage: 5.98% to 30.6.15, max 75%, fee £499. W.e.f 20.4.10.
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4 comments:
FEE on FIXED RATE MORTGAGE of 5.98% to 30.6.15 increased to 1% of advance, w.e.f. 27.4.10.
Looks like this buy-to-let mortgage is going down a treat and Saffron are trying to limit demand by upping the fee.
Just how is this a cracking deal? its nearly 5.5% over base on a low LTV and fees.
Am I missing something here?
Anonymous it all depends on what you think is going to happen to interest rates over the next 5 years. If the base rate is sitting at 5% in 3 years time paying 5.5% wont look that shoddy!
Saffron has now withdrawn this fixed rate buy-to-let mortgage. Have a look in the Mortgage Search for alternatives
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