Saffron Building Society Bolsters Mortgage Portfolio with Raft of New and Updated Products
27 January 2021
- Saffron have launched updated FTB and BTL products, added 90% LTV products and returns to Limited Company Buy-to-Let lending.
- All new and updated products available - to intermediaries only - from 27th January 2021
Saffron Building Society has today announced a raft of new and updated products to its range available exclusively to brokers.
Following a turbulent and unprecedented year for the industry, this will be the biggest product update that the society has undertaken in some time, bringing products in line with customer needs whilst bolstering the mutual’s specialist lender credentials.
FIRST TIME BUYERS: Launching today are two new FTB, 90% LTV products. The two-year and five-year fixed rate products offer a 3.77% and 4.07% rate, respectively. In addition, the society has removed the arrangement fee and offer free valuation to support those struggling with upfront costs. The FTB products also benefit from the acceptance of gifted deposits - from a close family member - too.
BUY-TO-LET: Having re-entered the residential buy-to-let market in late 2020, Saffron are delighted to announce the launch of two new Limited Company Buy-to-Let products. The two-year and five-year fixed rate mortgages, 2.87% and 3.47% respectively, offer an LTV of 75% to limited company purchases and remortgages. In addition, Saffron is reducing the rate on its Everyday BTL 5 Year Fixed down to 3.47%. These three new BTL products are all being offered with a reduced arrangement fee, for a limited time only.
90% LTV PURCHASE AND REMORTGAGE: For existing homeowners wishing to move home or remortgage, Saffron are announcing two new 90% LTV mortgages. As interest grows for higher LTV products for existing homeowners, the new products offer rates of 3.57% and 3.77% respectively and free valuation.
Tony Hall, Interim Head of Mortgage Sales comments: “It is a pleasure to begin the new year with a tranche of new and updated products that not only expand our offering to intermediaries but have wider appeal to more clients as the market continues to shift in light of the pandemic. Our successful return to the 90% LTV FTB market in 2020 gave us the insight we needed to create a product that would offer those struggling with upfront finances a helping-hand on to the property ladder. Having re-entered the residential buy-to-let market at the end of 2020, we had always intended to return with a product for limited companies, and following feedback during our webinars with brokers, we decided now was the right time. These product launches continue to prove Saffron’s commitment to our network of brokers and ensure we remain competitive as a specialist lender too.”
The Saffron for Intermediaries team are on hand to discuss the products, specifications, and criteria. Alternatively, for more detailed information on these products visit the website www.saffronforintermediaries.co.uk or contact your business development manager who will be happy to discuss.
