The rates begin at 1.49% to 60% LTV up to 2.99% to 90% LTV and rever to Saffron's standard SVR after the discoun period has ended, with no arrangement fee and £800 cashback on completion. The products carry a 2% early repayment charge applicable during the discount period only. The maximum loan size is £1m to 80% LTV - above this loan to value, the maximum is £500,000.
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.”
