Saffron slashes BTL rates as Fleet and Dudley trim costs Mortgage Finance Gazette

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Saffron Building Society is cutting buy-to-let mortgage rates by up to 30 basis points today, while Fleet and Dudley are also making reductions.

Next Wednesday, Saffron is lowering its five-year fixed at 75% loan-to-value by 30 bps from 5.17% to 4.87% with a £2,500 fee for limited company buy-to-let.

The same product with a 1.5% fee is also falling by 30 bps from 5.27% to 4.97%.

For standard buy-to-let, its five-year fixed at 75% LTV is reducing from 5.47% to 5.27% with a £1,999 fee.

Buy-to-let specialist Fleet is lowering prices on a number of deals, reducing some fees and bringing out new products.

Fleet has cut rates on mortgages for houses in multiple occupation by up to 15 basis points so that a five-year fixed at 75% LTV with a 3% product fee now starts at 4.99% for properties with an energy performance certificate rating of A-C.

For standard and limited company buy-to-let, it has launched a two-year fixed rate at 65% loan-to-value at 3.89% with a 3% product fee as well as a fee-free alternative at 5.49%, both of which come with free valuation up to £500,000.

The lender has cut rates on its two-year fixed rates at 75% LTV by 10 basis points for standard and limited company buy-to-let, which now start from 5.59% with no product fee.

It has reduced the fees by £2,000 down to £1,999 on its 4.99% five-year fixed rate at 65% LTV and its 5.09% five-year fixed at 75% LTV.

Dudley has also launched a refreshed mortgage range with new rates on residential, expat, buy-to-let and holiday let lending starting from 5.7%.