Saffron reduces the cost of remortgaging with 2 & 3 year discounts, no arrangement fees & £800 cashback

23 September 2015

Saffron For Intermediaries, the dedicated broker channel of Saffron Building Society, has launched a range of low-cost remortgage products with the following features:

2 Year Discount Rates: 1.49% to 60% LTV, 1.59% to 80% LTV & 2.29% to 90% LTV
3 Year Discount Rates: 1.89% to 60% LTV, 1.99% to 70% LTV, 2.19% to 80% LTV & 2.99% to 90% LTV
Rates revert to Saffron’s standard SVR (currently 5.39%) after the discount period has ended
Arrangement Fee: None
Incentive: £800 cashback on completion
Early Repayment Charge: 2% repayable during discount period only
Loan size: Min £30K, Max £1m to 80% LTV & £500K above 80% LTV
Portable: Yes

Anita Arch, Head of Mortgage Sales, said: “Remortgaging is on the increase which is great news for brokers, but the sting in the tail with many remortgage products is that they come with hefty up-front fees, which is a disincentive for borrowers.

“We not only wanted to offer low rates, but also no arrangement fees and a cashback that, in the majority of cases, will cover the cost of typical valuation and legal fees.

“These products make remortgaging easy for both borrowers and brokers and help keep the cost of home ownership as low as possible.”

Saffron does not use credit scoring, preferring to use skilled underwriters who individually assess each mortgage application.

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