Saffron enhances first-time buyer, self-employed & contractor mortgage deals

04 April 2017

Saffron For Intermediaries, the dedicated intermediary channel of Saffron Building Society, has cut rates and extended the term on several of its mortgages for first-time buyers, the self-employed and contractors.

Anita Arch, Head of Mortgage Sales at Saffron, said: “We’re delighted to be making these products even more competitive, by cutting rates and extending the product terms on several products. As well as offering great rates, all applications are assessed on their own merits by a skilled underwriter and we guarantee a fast and personal service.”

The enhanced mortgage deals include the following:

First-time buyers
Rate: 3.57% fixed to 31/10/20 (was 3.97% fixed to 30/06/20)
Max LTV: 95%
Min & Max loan: £30K min & £500K max (will consider applications up to £1m within the M25, subject to max 95% LTV & underwriter assessment)
Arrangement fee: None
ERC: 3% during fixed period

Self-employed
To 80% LTV:
Rate: 2.79% variable for 5 years (SVR – 2.6%). Was 3.79%
Min & Max loan: £30K min & £1m max
Arrangement fee: £625 (was £1,250)
ERC: None & unlimited overpayments

To 85% LTV:
Rate: 3.67% fixed until 31/01/21 (was 3.97% fixed to 31/01/20)
Min & Max loan: £30K min & £500K max
Arrangement fee: £999
ERC: 3% during the fixed period  & overpayments up to 10% per year allowed penalty free

Contractors

To 80% LTV:
Rate: 2.79% variable for 5 years (SVR – 2.6%). Was 3.79%
Min & Max loan: £30K min & £1m max
Arrangement fee: £625 (was £1,250)
ERC: None & unlimited overpayments

To 90% LTV:
Rate: 3.67% fixed until 31/01/21 (was 3.97% fixed to 31/01/20)
Min & Max loan: £30K min & max of £1m to 85% LTV & £500K above 85% LTV
Arrangement fee: £999
ERC: 3% during the fixed period & overpayments up to 10% per year allowed penalty free

Intermediaries can find full information about Saffron’s mortgage products at: www.saffronforintermediaries.co.uk