Saffron Building Society has introduced a raft of product relaunches and refreshes across its full portfolio, ready for the key spring house market season.
One of the key highlights is the reintroduction of Saffron’s first-time buyer 2-year fixed-rate products, which will offer this crucial group of buyers a choice of shorter fixes alongside its current 5-year fixed-rate products.
This comes at the perfect time as a recent report shows that the first-time buyer section of the market appears to be outpacing the rest – with property sales in this vital group now 4% higher than in March 2019.
The 2-year fixed rates are available with 90% and 95% loan-to-value (LTV), offering a 5.57% and 5.87% rate respectively with no application or arrangement fees, and free standard valuation.
With warmer weather announcing the arrival of the spring ‘self-build season’, the Society has 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%.
Tony Hall, head of business development, said: “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.”
