Saffron expands BTL range with expat HMO products
The products are aimed at overseas landlords investing in specialist property.
Saffron for Intermediaries has expanded its buy-to-let (BTL) range with expat houses in multiple occupation (HMO) products, including options for large HMOs.
The products are aimed at overseas landlords investing in specialist property.
Saffron has also removed the requirement for expat landlords to appoint a UK solicitor, with applicants now able to nominate a UK resident instead.
The change applies to its expat BTL and expat residential ranges.
Additionally, Saffron has updated its residential lending criteria to allow pending salaries to be used in affordability assessments.
Borrowers must have a signed employment contract and start their new job before the mortgage is completed.
The change does not apply to retirement interest-only mortgages.
Tony Hall, head of business development at Saffron for Intermediaries, said: “We know that specialist cases don’t always fit neatly within traditional lending criteria, and brokers need lenders that can respond to the different circumstances they’re seeing.
“These latest enhancements reflect that, expanding the options available across our Buy-to-Let proposition while removing some of the practical barriers that can make complex Residential cases harder to place.
“For brokers, the aim is simple: to give them more options when supporting specialist landlords and borrowers, whether that’s an expat client or someone moving into a new role.”
Hall added: “By continuing to listen to broker feedback and refine our proposition around real cases, we can help brokers find a way forward for more of the clients they’re supporting.”
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