Saffron announce revamp to entire self-employed and contractor range

Saffron announce revamp to entire self-employed and contractor range

Saffron For Intermediaries has announced that it has overhauled its self-employed and contractor mortgage ranges.

Rates and fees have been reduced and all discount rates are now ERC free. Borrowers can choose either a three-year discount rate or fix their rate until April 2021.


There is also a new 90% LTV fixed rate for the self-employed and a new 60% LTV band has been introduced for borrowers with significant equity who want to remortgage or move home.

Self-employed mortgages are now available to anyone (including first-time buyers) who is self-employed with trading accounts of one year or more.

Three-year discounted rates are available from 2.49% up to 60% LTV, 2.79% at 80% LTV and 3.39% at 90% LTV.

New fixed rates are available from 3.27% to 80% LTV and 3.77% to 90% LTV.
         
Three-year discounted contractor rates start from 2.39% up to 60% LTV, 2.69% at 80% LTV and 3.29% at 90% LTV.

Fixed rates start from 3.17% to 80% LTV and 3.67% at 90% LTV.

All fixed rate products have an ERC of 3% until the end of the fixed rate period and an arrangement fee of £999.

Anita Arch, Head of Mortgage Sales at Saffron, said: “The self-employed and contractors are a growing sector of our national workforce and these enhancements will help them to drive-down the cost of either purchasing or remortgaging property.
 
We’re now offering a choice of either fixed rates to end April 2021, or ERC free three-year discounts allowing borrowers to make unlimited overpayments without penalty. All products are also available on an interest-only basis up to 70% LTV.”

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Latest Comments

Tony Gimple
Tony Gimple 09 Dec 2017

Linking professionalism to limited company borrowing is a flawed concept. Despite S24 etc., limited companies are the most tax inefficient way of running a property business and leave borrowers seriously...

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Evelyn Attwood
Evelyn Attwood 01 Dec 2017

It's normal. If you plan to buy a house in one of the most beautiful spots in the country you should pay a high price.

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Evelyn Attwood
Evelyn Attwood 01 Dec 2017

I think that the situation will be the same at December.

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Scott Garnet
Scott Garnet 06 Nov 2017

If you have a patio or a porch it is important to make sure that any connecting doors are secured. Good advice for sliding glass doors is replacing the panels with storm resistant glass and getting heavier...

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richardrawlings
richardrawlings 01 Nov 2017

What has not been mentioned here is the effect of not only higher interest payments, but also that these payments are less likely to be offsettable as a business cost due to the scaling back of mortgage...

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Kelvin Lloyd
Kelvin Lloyd 09 Oct 2017

IT is up, to the Planners. If they will only give permission for bungalows on certain (suitable) sites, they will be built.

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maggie swift
maggie swift 09 Oct 2017

It's just the beginning of the shocking rise.

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maggie swift
maggie swift 09 Oct 2017

I have recently read that the bungalows can provide social housing for elderly residents in London.

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zoe glover
zoe glover 05 Oct 2017

Update! Worst company I have ever dealt with. Undervalued a Cambridge property by over 100k, wont take on any evidence of valuation including a RICS valuation done 3 years ago for the very same value...

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Paul Edwards
Paul Edwards 27 Sep 2017

Its nonsense articles such as this that make it harder to get clients to realise just how difficult the market is out there. When you see Rightmove and there are more 'price reduced' then 'new' most days...

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Tom Allen
Tom Allen 20 Sep 2017

Absolutely agree with you!

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RyanGeo
RyanGeo 18 Sep 2017

A sharp correction would be a less dramatic expression to use. That is already underway in certain sectors in Reading where I practice as Chartered Surveyor

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