The Saffron Building Society’ has added a Limited Company buy-to-let mortgage to its range.
Recent tax changes mean that some private landlords will be better suited to running their investment properties through a limited company. As a result the need for a mortgage to accommodate this situation is set to increase and has inspired the Saffron to meet this demand, the mutual said.
The deal is priced at 3.17% and is fixed for two years until 31/10/2021.
It is available up to 75% LTV and has an arrangement fee of 2%.
Anita Arch, the Saffron’s head of mortgage sales, said: “With interest rates predicted to remain flat for the next 20 years many investors continue to see buy-to-let as a solid method to receive a good return on investment. This said, landlords could be negatively impacted by the current changes in tax law and receive a reduced income as a consequence.
“Our new Limited Company buy-to-let mortgage creates a new option for intermediaries to consider and introduce to their customers to address this.”