Saffron launches new 2 year discount for first-time-buyers

Saffron For Intermediaries has announced that it has strengthened its residential mortgage range by launching a new 2-year discount for first-time buyers and cutting rates on its owner-occupier 3-year discounts which now include a new lower rate at for those who have a 40% deposit.

Related topics:  Finance
Warren Lewis
4th March 2015
Launching

The new first-time buyer mortgage is available up to 95% LTV at 4.49%

Saffron's enhanced owner-occupier mortgage offers reduced rates, including:

- 2.19% 3-yr discount to 60% LTV
- 2.29% 3-yr discount to 70% LTV (previously 3.19%)
- 2.39% 3-yr discount to 80% LTV (previously 3.59%)
- 3.29% 3-yr discount to 90% LTV (previously 3.99%)

Anita Arch, Senior Business Development Manager at Saffron For Intermediaries, said: “These products provide an excellent alternative for borrowers who don’t want to be locked-in by fixed rates.

Our new first-time buyer deal has no arrangement fees, no ERCs and offers a £500 cashback, giving borrowers low up-front costs and the ability to remortgage whenever they want to. The 3-year discount also has no arrangement fees and both products are manually underwritten, so are ideally suited for any creditworthy borrower who struggles to achieve a lenders credit score.”

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