Saffron makes rate reductions across complex borrowing range

Cuts also apply to other ranges, including its first-time buyer, self-employed and owner occupier mortgages - with the lender introducing two-year fixed rates at 6.67% and 6.97% (for 90% and 95% LTV respectively) for first-time buyers.

The latter both have a maximum loan size of £1,000,000 up to 90% LTV or £500,000 above 90% LTV, and a maximum repayment term of 40 years.

A number of products, including some of the lender's retrofit, contractor and first-time buyer mortgages, have been withdrawn.

Tony Hall, Head of Business Development at Saffron for Intermediaries, comments:

“At Saffron, we are committed to continually monitoring our product proposition to remain relevant in the market. The market never stands still, and neither do we. It's important to us that we support those with specialist needs and complex sources of income. Many borrowers are under-served by the mortgage industry due to their particular circumstances and we are working hard to make mortgage finance accessible to all.”