The fixed rates include self-employed & contractor mortgages at 3.37% fixed rate until 30/06/19 (moving onto the Saffron's SVR afterwards) up to 75% LTV. The Professional mortgage is at a 3.27% fixed rate until 30/06/19 (then SVR -1% thereafter) up to 75% LTV. Arrangement fees are £1,250 for self-employed and contractors, and £1,550 for professionals, with minimum loans of £30k up to a maximum of £1m. The ERC across the range is 3% of the outstanding balance during the fixed rate period.
Anita Arch, Head of Mortgage Sales, said:
“At a time when there is growing speculation about a possible rate rise this year, these fixed rates give the self-employed, contractors and professionals the opportunity to lock into today’s low mortgage rates and benefit from the certainty they offer”.
Saffron’s occupational mortgage range has been designed to address issues faced by those who work for themselves or in specific professions, when they apply for a mortgage. The Society does not use credit scoring, preferring to use skilled underwriters who individually assess each mortgage application.