Saffron relaunches two-year fixes and reduces rates

Saffron Building Society has announced a number of product relaunches and refreshes across its full mortgage range.

One of the key highlights is the reintroduction of Saffron’s first-time buyer two-year fixed-rate products. The two-year fixed rates are available with 90% and 95% LTV, offering a 5.57% and 5.87% rate respectively with no application or arrangement fees, and free standard valuation.

The Society has also reduced the rate on its 75% LTV self-build product and is publishing a new self-build guide. The guide, which is available free to brokers via the Saffron for Intermediaries website, is designed to help brokers better understand this key growth area and assist with the application process. Saffron’s self-build product at 75% LTV is now available with a 2.60% discount off SVR, meaning a current rate of 5.39%, previously listed at 5.59%.

Amongst its other product refreshes, two-year residential rates now start from 4.69% at 80% LTV and 5.37% at 90% LTV.

80% LTV self-employed rates have reduced to 5.67% fixed for two years and 5.57% fixed for five years, while contractor rates start at 5.57% and 5.47% respectively.

Tony Hall, head of business development at Saffron, commented: “We are delighted to continue to support the vibrant self-build market with this rate reduction on loans up to £1m, which will allow even more people to realise their dream of building their own home.

"As we enter self-build season in the UK we have published our new self-build guide which has been developed with one main objective in mind: to support brokers in the application process so that they can confidently advise clients on this big growth opportunity.”