Saffron for Intermediaries today announces rate reductions across a number of products, in order to give borrowers as many options as possible to find a mortgage that suits their needs.
Owner Occupied rate reductions
Rate reductions have been made to Saffron’s owner occupied products, including their owner occupied large loan product, which caters for loans of up to £5 million.
In addition, the lender has announced a new 85% LTV band for residential owner occupier products for those with a 15% deposit. The full series of new rates includes:
- 85% LTV 2-year fixed rate Owner Occupied product at 5.37%, £999 arrangement fee
- 85% LTV 5-year fixed rate Owner Occupied product at 5.47%, £999 arrangement fee
- 80% LTV 2-year fixed rate Owner Occupied product down 0.4% from 5.67% to 5.27%, £999 arrangement fee
- 80% LTV 5-year fixed rate Owner Occupied, large loan product down 0.6% from 5.37% to 4.77%, £1495 arrangement fee
Expat BTL rate reductions
Rate reductions have been made to Saffron for Intermediaries’ Expat Buy to Let products. These rate changes will offer support to both first-time landlords, and more experienced portfolio landlords and follow the introduction of a new fixed-fee Expat BTL product in March. The full series of new rates includes:
- 75% LTV 5-year fixed rate Expat BTL product down 0.2% from 5.87% to 5.67%, £2500 arrangement fee
- 75% LTV variable rate Expat BTL product at SVR -2.8%, £1995 arrangement fee
Green Residential rate reductions
Finally, Saffron for Intermediaries has reduced rates on its Green Residential product, to give homebuyers and movers as many opportunities as possible to find a suitable product for their circumstances. The rate change is:
- 80% LTV 2-year fixed rate Green Residential product down 0.4% from 5.67% to 5.27%, £999 arrangement fee
Tony Hall, Head of Business Development at Saffron for Intermediaries, commented: “In the aftermath of the election uncertainty, and ahead of a potential base rate reduction, we are delighted to be able to announce reduced rates across a range of our products. We are increasingly aware of the more complex circumstances of today’s borrowers, and that the approach to mortgages must reflect this. This is why we are constantly looking for ways to enhance our mortgage products to ensure that we can help as many borrowers as possible to find a product that works for them. Today’s announcement is just another step towards that goal.”
