Saffron launch two 5-year buy-to-let fixes

The mutual offers a 5-year fixed rate at 4.87% on standard buy-to-let mortgages.

The second option is a 5.07% 5-year fixed rate on buy-to-let light refurbishment mortgages.

Both deals are available up to 80% LTV with an arrangement fee of £995 for loans up to £500,000 and £1,995 up to £1m.

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.”

Loans above £1m are available by referral, while there is an early repayment charge of 3% during the fixed rate period, while overpayments of up to 10% per annum are allowed without penalty.

Brokers can access Saffron’s Special Situations and Everyday Situations mortgages via 3mc, AToM, Brightstar, Complete FS, L&G Network, Platinum Options and tbmc.