Saffron for Intermediaries has made rate reductions across 12 of its core products, including owner-occupier, self-employed, contractor, and buy-to-let (BTL) mortgage ranges.
This was the latest in a series of upgrades to the lender’s proposition, with the aim of providing better value for customers in line with changes to mortgage swap rates.
Rate reductions were made to three of Saffron’s self-employed mortgages and two of its contractor mortgages, including a 0.5% decrease on its 90% loan-to-value (LTV) 5-year fixed-rate self-employed product.
Saffron’s self-employed mortgages are available to first-time buyers and require a borrower to provide a minimum of 12 months accounts, and projected earnings.
The maximum term for the products is 40 years, helping ease pressures on affordability.
Fixed-rate self-employed products now include a 5-year 80% LTV product at 5.67%, a 2-year 90% LTV product at 6.77%, and a 5-year 90% LTV product at 6.37%.
Saffron for Intermediaries also reduced rates on four of its 80% and 90% LTV owner-occupier mortgages, including a 0.6% decrease on its 90% LTV 5-year fixed-rate owner occupier product.
Highlights from the product changes include a 2-year 80% LTV fixed-rate at 5.67%, a 5-year 80% LTV fixed-rate at 5.17%, a 2-year 90% LTV fixed-rate at 5.67%, and a 5-year 90% LTV fixed-rate at 5.17%.
Rates on Saffron for Intermediaries’ BTL, limited company BTL and expat BTL products were also reduced.
Saffron’s limited company buy-to-let product is also open to first-time landlords and new limited companies.
The range now includes a 5-year 75% LTV fixed-rate expat BTL product at 6.27%, a 5-year 75% LTV fixed-rate BTL product at 5.87%, and a 5-year 75% LTV fixed-rate limited company BTL product down at 5.87%.
Tony Hall (pictured), head of business development at Saffron for Intermediaries, said: “Ensuring we continually review our product range, so it remains as competitive as possible for our broker partners and their clients is of the upmost importance to us.
“As the market evolves, we want to ensure we adapt with it too. This latest round of rate reductions is a testament to our goal of providing affordable mortgage support to those with specialist requirements and complex sources of income.”
