FIRST-TIME BUYER 2-YEAR FIX WITH NO ARRANGMENT FEE & £500 CASHBACK

12 August 2015

SaffronFor Intermediaries, the dedicated broker channel of Saffron Building Society, has launched a new 2-year fixed rate mortgage for first time buyers with the following features:

Rate: 4.47% fixed until 31.08.2017 (the rate then reverts to Saffron’s standard SVR, which is currently 5.39%)
Max LTV: 95%
Arrangement Fee: None
Incentive: £500 cashback on completion
Early Repayment Charge:2% until 31.08.2017
Loan type: House purchase on repayment basis only
Loan size: Min £30K, Max £500K
Portable: Yes

Anita Arch, Head of Mortgage Sales,said: “CML data confirms that 46% of all new mortgages for house purchase are currently being taken by first-time buyers. Surprisingly, however, in the popular 2-year fixed rate category, less than a third of mortgages are available via brokers.

“This deal offers brokers an attractive package for their first-time buyer clients: a competitive 2-year fix up to 95% LTV, no arrangement fee, no overhanging redemption penalties and a £500 cashback on completion.

“There is only a limited tranche of funding for this product, which will be allocated on a first come, first served basis.”

Brokers can find further information about this deal and Saffron’s otherproducts and services by visiting: www.saffronforintermediaries.co.uk