Saffron for Intermediaries reduces mortgage rates by 0.40% across selected products

Saffron for Intermediaries has made improvements to its product range, including its self-employed, contractor, limited company buy-to-let, and joint borrower sole proprietor mortgages.

The move is the latest in a series of upgrades to the lenders’ proposition, intended to support more complex borrowing requirements and drive business in the larger loan market.

Saffron has reduced rates across its range, including on its first-time buyer, self-employed and owner occupier mortgages, as well as reintroduced 90% and 95% loan-to-value (LTV) 2-year fixed rate first-time buyer mortgages.

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

Some highlights from the new rates and products include an 80% LTV 2-year fixed rate of 6.07% (self-employed), a 90% LTV fixed rate of 6.07% (owner occupier), a 95% LTV 5-year fixed rate of 6.07% (first-time buyer) and a reintroduced 95% LTV fixed rate of 6.97% (first-time buyer).

In order to make room for new rates, Saffron has also withdrawn selected products.

Tony Hall (pictured), head of business development at Saffron for Intermediaries, said: “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.”