The new first-time buyer mortgage is available up to 95% LTV at 4.49%
Saffron's enhanced owner-occupier mortgage offers reduced rates, including:
- 2.19% 3-yr discount to 60% LTV
- 2.29% 3-yr discount to 70% LTV (previously 3.19%)
- 2.39% 3-yr discount to 80% LTV (previously 3.59%)
- 3.29% 3-yr discount to 90% LTV (previously 3.99%)
Anita Arch, Senior Business Development Manager at Saffron For Intermediaries, said:
“These products provide an excellent alternative for borrowers who don’t want to be locked-in by fixed rates.
“Our new first-time buyer deal has no arrangement fees, no ERCs and offers a £500 cashback, giving borrowers low up-front costs and the ability to remortgage whenever they want to. The 3-year discount also has no arrangement fees and both products are manually underwritten, so are ideally suited for any creditworthy borrower who struggles to achieve a lenders credit score.”
Saffron has also enhanced its Contractor Mortgage by adding a 90% LTV band offering a 5-year discounted rate of 4.09%.
The product includes the following features:
- LTV bands extended up to 90%:
- 3.29% 5-yr discount to 70% LTV
- 3.79% 5-yr discount to 80% LTV
- 3.89% 5-yr discount to 85% LTV
- 4.09% 5-yr discount to 90% LTV
Borrowers must have a minimum 6-month term left on their contract and a minimum contract history of 6 months to 80% LTV, rising to 2 years to 90% LTV.
Anita Arch commented:
“This enhanced mortgage now enables contractors to borrow up to 90% LTV and benefit from a 5-year discount. There are no early repayment charges and all applications are manually underwritten and not subject to credit scoring.”
Brokers can access these new products via a panel of distributors which includes 3mc, AToM, Brightstar, Complete FS, L&G Network, Platinum Options, tbmc and Vantage.
