The Mortgage Works has cut rates by up to 0.20% on selected buy-to-let (BTL) remortgage products across its new business mortgage range. As a result, the lender’s two-year fixed BTL mortgage is now available at 3.74% at 65% LTV with a 3% fee, while its five-year BTL mortgage at 55% LTV start from 4.37% with a 3% fee. On its five-year BTL mortgage with a £1,495 fee, rates start at 4.99% at up to 75% LTV. All products come with free valuation and free legal.

Saffron for Intermediaries has announced a series of criteria enhancements across its BTL, self-build and residential ranges. On its BTL range, new build flats are now accepted up to 75% LTV on an interest-only basis, and it has also introduced a new 55% LTV tier. On its self-build criteria, Saffron will now accept a broader range of accepted warranty options, including STA Gold Standard and Professional Consultant Certificates. Furthermore, the specialist lender has increased its maximum interest-only element for part-and-part mortgages from 60% to 70% on its residential proposition, within an overall maximum of 80% LTV.

Offa has made two new appointments within its bridging finance team. Tahir Ahmad joins the British Islamic property finance fintech as business development manager. He brings over 20 years of industry experience to the role, having worked for UBL UK, Habib Bank Zurich, Cynergy Bank, Punjab National International Bank and Whitehall Capital. Hasan Ilyas has also joined the firm as business development support officer. He joins from Paragon, were he worked on its BTL team for three years, liaising with BDMs and brokers on end-to-end cases.

---