Saffron Building Society withdraws BTL product range

Saffron Building Society has removed its buy-to-let product range. 

The lender said it has made the strategic decision to focus on the first-time buyer market following last week's Budget. However, it plans to return to the buy-to-let market later this year.

Charlie Townsend, head of insight at Saffron Building Society, commented: “Our buy-to-let products were very successful and performed so well for us in quarter one.

“We have therefore adjusted our focus on to first-time buyer products. As such we have launched some newly refreshed products aimed at the first-time buyer market.

“These market-leading products include lower interest, smaller deposit mortgages, alongside the family support and joint borrower sole proprietor mortgage. We fully expect to be back in the buy-to-let market later in the year.”

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