Saffron for Intermediaries has announced that due to current market conditions, it will be withdrawing its expat buy-to-let 75% loan-to-value (LTV) 5-year product.
The withdrawal will be effective from Wednesday, June 28th, 2023.
Those wishing to secure this product will need to submit a full mortgage application with all associated fees paid by 5pm on Tuesday, June 27th, 2023.
In order to ensure a thorough review by Saffron’s underwriting team, the lender requests all Decision in Principle (DIP) forms to be submitted by midday of the same date.
This step will allow Saffron’s underwriters ample time to review any referrals, giving customers the best opportunity of reaching the full mortgage application (FMA) submission stage by the designated deadline.
This decision comes as the market reprices once more in response to the shifting landscape of the money markets and last week’s higher-than-expected rate rise from the Bank of England.
