Saffron Building Society has kicked off its Summer mortgage campaign for brokers with the new offer on its self-build range.
The ‘Summer Mortgage Deals from Saffron’ campaign was developed to provide a tempting selection of offers that will delight brokers and their clients and provide better mortgage deals available this Summer.
The deals have a dual benefit. Firstly, to widen the appeal of the lender’s mortgage range by adding wider and more competitive products, better rates and removal of application fees. And secondly, as the economy takes its toll on brokers’ clients, the deals feature lower upfront fees to reduce the initial costs of getting clients into new homes this summer.
Promoting a summer of self-building
The Summer campaign launches with a sensational offer, seeing the society discount the rates on these products to absorb the SVR increase forced by the recent base rate rise from the Bank of England.
The discounted rates are:
– Self-Build (up to £1m), 75% loan-to-value (LTV), 2-year fixed – discount rate: 3.79%
– Self-Build (up to £1m), 80% LTV, 2-year fixed – discount rate: 3.99%
– Self-Build Large Loan (£1-2m), 75% LTV, 2-year fixed – discount rate: 4.49%
– Self-Build Large Loan (£1-2m), 80% LTV, 2-year fixed – discount rate: 4.69%
No Application Fee: Saffron’s Summer deal on its Self-Build products provides an upfront saving for them as the society includes removes the application fee on the new, discounted rate products.
Reduced Product Fee: To complete this Summer deal, further cost savings are returned to brokers’ clients with a reduced product fee across the self-build mortgage range.
Tony Hall, head of mortgage sales at Saffron Building Society, said: “We are determined to celebrate this scorching summer with some tempting deals for brokers and their clients. We know times are tough so we have worked hard to bring together updates that will offer immediate upfront cost savings for mortgage applicants, that we hope will help to alleviate the strain of the rising cost-of-living.
“I am delighted to launch this summer of deals with the most significant saving ever seen on self-build mortgages.
“By absorbing the SVR increase through reducing the rates we are offering the 2-year fixed rate at a discount throughout the summer, presenting a longer term saving for the borrower.
“Combine that with a discounted product fee and an upfront saving by removing the application fee, it has never been a better time for self-build dreamers to swap the sun hat for the hard hat. We are ready to support brokers and will provide plenty of information in the coming days, on our website and across our social media channels in the coming days and weeks.”
