Saffron expands Buy-to-Let range with new Expat HMO products

Saffron for Intermediaries has today announced a series of enhancements across its specialist Buy-to-Let and Residential propositions, giving brokers greater flexibility when supporting complex cases.

New options for expat landlords

Saffron has expanded its specialist Buy-to-Let proposition with new Expat HMO products, including Large Expat HMO options. The new products give brokers more options when supporting overseas landlords looking to invest 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 simplifies the process for borrowers living abroad, removing an additional layer of cost and complexity, and follows feedback Saffron has received from brokers.

The change also applies to Saffron’s Expat Residential range.

Greater flexibility for Residential borrowers

Saffron has also enhanced its Residential criteria to support borrowers moving into a new role.

Pending new salaries can now be used for affordability assessments, excluding Retirement Interest Only (RIO) mortgages, provided borrowers have a signed employment contract and start their new role before mortgage completion.

The change gives brokers greater flexibility when supporting clients whose income is about to change, without having to wait until they have started earning their new salary.

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. 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.”