Saffron returns to 95% LTV lending for First-Time Buyers
28 July 2021
- Saffron for Intermediaries has today launched two new first-time buyer products – a 2-year and 5-year fixed rate.
- In addition, two new 90% LTV products replace previous with new reduced rates.
Saffron for Intermediaries has announced the launch of two new 95% LTV first-time buyer (FTB) mortgages today. The new products are the first return to 5% deposit mortgages since the two incredibly popular products released for a limited time last year, due to high demand.
From today, the two new FTB products, which include a 2-year fixed rate at 3.67% and a 5-year fixed at 3.87% are available for applications. Both products are offered with no arrangement fee and free valuation.
Alongside the launch of the two new products, Saffron has also re-launched two of the 90% LTV first-time buyer products with improved rates. The two mortgages, one 2-year fixed rate and a 5-year fixed, offer reduced rates of 3.57% and 3.77% consecutively and additionally benefit from no arrangement fee and free valuation.
Tony Hall, Head of Mortgage Sales at Saffron, comments: “We have been planning a return to 95% lending for some time and wanted to make sure we had the best possible products to come back to the market with. We are delighted not only to offer these great new products but also provide some additional benefits including no arrangement fee and free valuation too. Whilst building these new products, we have also taken the opportunity to review our existing 90% LTV products, and have – from today – reduced the rates to bring both the 2-year and 5-year products in line with the market position.”
For more information on the updated first-time buyer products, head to the Saffron for Intermediaries website: www.saffronforintermediaries.co.uk or contact the BDM team on 01799 582 925 or email bdm.enquiries@saffronbs.co.uk.
